Printer Friendly

NATIONWIDE TO REVISE OHIO AUTO INSURANCE RATES

 NATIONWIDE TO REVISE OHIO AUTO INSURANCE RATES
 COLUMBUS, Ohio, June 4 /PRNewswire/ -- Ohio's second largest auto


insurer, Nationwide Insurance, today announced it will revise its auto insurance rates in the state starting this month.
 Most policyholders -- an estimated 70 percent of them -- will get lower rates. Combined, the rate reduction will total $7.2 million annually. That averages $18 per car. Rates for some drivers will go up slightly because of territorial and rate class changes.
 Nationwide's overall auto rate reduction, which takes effect June 15, will be its first in Ohio since 1984. The company insures 737,000 private passenger cars in the Buckeye State.
 Meanwhile, Nationwide also will liberalize its good student discount. The auto insurance discount of 10 percent, which applies to students with grade averages of B or better, now ends when the student graduates from a four-year college. It now will be extended until the driver reaches age 25.
 The statewide rate reduction for Ohio will be the 14th for Nationwide since early 1991. The other rate reductions, which average 4 percent, were made in California, Connecticut, Utah, Florida, Georgia, Michigan, North Carolina, Tennessee, Illinois, Maine, New Hampshire, Virginia and Wyoming.
 D. Richard McFerson, president of Nationwide's auto insurance companies, said a downturn in auto accident claims frequency made it possible for Nationwide to reduce its auto insurance rates in Ohio. He cited improved highway safety and reduced driving because of a slower economy for the improved accident picture.
 "More drivers are using seat belts, and more automobiles are being equipped with air bags," McFerson said. "Additionally, motorists are drinking and driving less. All of those factors help to reduce auto accidents, deaths and injuries."
 McFerson said, "Nationwide is proud to have been a national leader in all three safety efforts." He noted that Nationwide nearly 30 years ago offered the first incentive for seat belt users, campaigned for many years for air bags, and in 1975 was one of the first two insurers to offer an insurance price discount to owners of cars with air bags. And Nationwide has long been a strong advocate for stiffer drinking and driving laws and firm law enforcement, McFerson said.
 He added that wider use of competitive auto parts is helping to hold down the cost of auto repairs. Those less expensive competitive parts, which are as good as or better than the originals, have forced down the cost of original equipment parts, McFerson said.
 -0- 6/4/92
 /CONTACT: Louis Fabro, 614-249-6341, or Jeff Botti, 614-249-6339, both of Nationwide Insurance/ CO: Nationwide Insurance ST: Ohio IN: INS SU:


CG -- CL017 -- 7101 06/04/92 14:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 4, 1992
Words:440
Previous Article:CHRYSLER REPORTS MAY PRODUCTION
Next Article:AT&T TO HOLD PRESS CONFERENCE ON CONTRACT NEGOTIATIONS
Topics:


Related Articles
PROGRESSIVE CUTS AUTO INSURANCE RATES 10 PERCENT FOR OHIO CUSTOMERS
NATIONWIDE INSURANCE RATE CHANGE ON WAY FOR OHIO DRIVERS
BUYING AUTO INSURANCE? SHOPPING AROUND COULD SAVE YOU A BUNDLE
STUDY SHOWS OHIO AUTO INSURANCE LOWER THAN MOST STATES
NATIONWIDE PROVIDES INITIATIVE FOR NEW HIGHWAY SAFETY EFFORT
Nationwide Again Lowers Auto Insurance Rates in Maine
Nationwide Insurance Lowering Auto Rates in Connecticut
Nationwide Insurance to Cut Texas Auto Rates
Nationwide Insurance Cutting Ohio Auto Rates
Nationwide Insurance Lowering Florida Auto Rates and Improving Two Discounts

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters