Progressive Insurance Now Largest Writer of Personal Watercraft Insurance
MAYFIELD VILLAGE, Ohio — March 21, 2002 —Progressive Insurance (NYSE: PGR), the country's largest writer of auto insurance through independent agents and one of the leading insurers of motorcycles, boats, and RVs, today announced that it is the country's largest insurer of personal watercraft (PWC), such as Kawasaki Jet Skis® and Yamaha Wave Runners®.
The number one ranking is determined by number of insured units. Progressive already ranks as the country's number one overall writer of motorcycle insurance, and number one writer of RV insurance through independent agents.
"We're thrilled to be number one in PWC," said Ben Sheridan, manager of Progressive's special lines group. "I think it shows that agents like competitively-priced products that are easy to sell, available to almost any customer, and are backed by great service. I think it also shows that consumers like to buy through knowledgeable, local agents."
Progressive PWC insurance is priced competitively, and is flexible enough to provide coverage for almost any PWC and owner. And by selling Progressive, agents can offer specialized coverages that just aren't provided when they add a PWC to an existing auto or homeowners policy, such as:
- Roadside assistance — Progressive provides towing to the nearest qualified repair facility at no additional cost when the tow vehicle or trailer is damaged or disabled.
- Low deductibles— Progressive's $100 comprehensive and collision deductible is unique in the industry.
- Replacement Cost Personal Effects — Progressive offers coverage for up to $5000 of personal effects, such as clothing, jewelry, cameras, etc.
- Water-ski coverage — Progressive provides at no additional cost.
Progressive authorized agents can quote and upload a Progressive PWC policy quickly and accurately with the company's ProRater® software. And they can save time and effort by accessing their customers' PWC policies on the company's agent-dedicated Web site, ForAgentsOnly.com (FAO).
All Progressive policyholders and agents enjoy the security of knowing they're backed by the company's industry-leading, 24/7 Immediate Response® claims service and 24 Hour Policy Services. Progressive claims and policy service representatives are specially-trained to address the needs of PWC owners. Policyholders can also benefit from the convenience of paying their premium installment via electronic funds transfer, and accessing their policy through the company's policyholder self-service site, personal.progressive.com.
Sheridan said, "I really feel that an agent who sells insurance for a watercraft, motorcycle, or RV can't do any better than Progressive. Our coverage is designed with the enthusiast's unique needs in mind. I would encourage all Progressive authorized agents to sell special lines: the products are easy to cross sell to current Progressive auto customers, and selling them helps agents improve their customer retention and increase their revenue."
Progressive (NYSE: PGR), in business since 1937, is the country's largest writer of auto, motorcycle, personal watercraft, and recreational vehicle insurance through independent agents. The more than 30,000 independent agencies that represent Progressive combine the power of personalized service and counsel with Progressive's trusted brand, superior 24/7 service, innovative technology and competitive rates. With headquarters in Mayfield Village, Ohio, Progressive also sells its products over the phone at 1-800-PROGRESSIVE® and online at progressive.com. Progressive authorized agents can logon to the company's agent-dedicated Web site, ForAgentsOnly.com (FAO) to access customer policies, state and countrywide news, and other interactive features.
###
Ben Sheridan is available for interview.
