Six Lucky Agents Will Win Big in Progressive's "Year of the RV" Contest
Contest Highlights New Coverages and Growth Potential for Agencies
MAYFIELD VILLAGE, Ohio — April 26, 2004 —The Progressive group of insurance companies, the number one writer of RV insurance through independent agents and brokers in the United States, is adding some fun to the summer by giving away six 2005 Jayco Jay Feather EXP 18' travel trailers, valued at more than $15,000 each. The countrywide contest is intended to highlight new product features that are now available in almost every state in which Progressive writes RV insurance.
The RV market provides independent agents and brokers with a huge opportunity for profitable growth. According to data from a 2001 University of Michigan study, almost seven million households own an RV and one in 10 people plan to purchase an RV in the future. "This is the 'Year of the RV' for Progressive," said Karen Palmer, product manager of Progressive's RV product. "We are really excited about the enhanced coverages we've introduced and want to help agent and brokers target RV owners with the right product for their unique needs. Doing so can really help an agency grow their overall business."
Progressive's specialized RV product includes a number of new or unique coverages including:
- Agreed Value Coverage that allows customers to insure their RV against total loss based on its current value for the life of the policy;
- Vacation Liability and Emergency Expense Coverage;
- Expanded coverage for utility trailers; and
- A Full Timers package that better protects customers who use their RV as a primary residence
The state-by-state roll out of the new product, which started last year, has culminated in the "Year of the RV" contest. To enter, agents and brokers complete a short survey on the companies' agency dedicated Web site, ForAgentsOnly.com, and submit at least one new Progressive RV policy. Each new application is an entry into the contest. Progressive will draw the winners at random and announce them by July 15, 2004.
"The contest is really designed to help get the word out to agents and brokers that they can use the Progressive's specialized coverages - designed specifically to protect RV owners' substantial investment when they are at home or on the road - to tap into this market and grow profitably," added Palmer.
The Progressive group of insurance companies, in business since 1937, comprises the nation's third largest auto insurance group and the largest writer of auto insurance through independent agents and brokers, based on premiums written. The more than 30,000 independent agencies that represent Progressive companies combine the power of personalized service and counsel with Progressive's trusted brand, superior 24/7 service, innovative technology and competitive rates. Agents and brokers can login to Progressive's agency-dedicated Web site, ForAgentsOnly.com (FAO), to access customer policies, state and countrywide news, and other interactive features. The Common Shares of The Progressive Corporation, the holding company, are publicly traded (NYSE: PGR).
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