Nationwide Insurance Lowering Auto Rates in Florida
15 June 1998
Nationwide Insurance Lowering Auto Rates in Florida COLUMBUS, Ohio, June 12 -- Nationwide Insurance is filing to
lower its auto insurance rates in Florida by an average of 5.2%. This is in
addition to the .9 percent decrease announced earlier this year.
The overall annual savings for Nationwide's Florida policyholders are
estimated at some $12.5 million.
Individual rates will vary up or down according to drivers' ages, rating
territory, accident and violation records, types and amounts of coverage, and
other factors, such as discounts. Pending approval from the Florida Insurance
Department, the decrease is effective mid-September.
"Nationwide is able to reduce rates in Florida because the market has been
very healthy and there has been a decrease in the number of claims. Due to
this, we are passing our savings onto our policyholders," said Jerry D.
Daughtry, vice president in charge of Nationwide's Florida operations.
"There has been a decrease in the number of bodily injury claims, which
may be a result of seat belts, more cars equipped with air bags, and a
reduction in crashes caused by drunken drivers," he said. "Nationwide also
has improved its claims operations to become even more efficient and to be
even more responsive to our customers," Daughtry said.
Nationwide, based in Columbus, Ohio, is Florida's and the country's
fourth-largest auto insurer and is No. 5 in total personal lines auto business
in Florida. The company insures some 331,000 vehicles in Florida.
Daughtry also noted that Nationwide has already received approval to
expand its auto insurance eligibility standards so that the company's 300
Florida agents can serve even more drivers. "Nationwide is stepping up its
marketing campaign to offer insurance to those drivers who have been in at-
fault traffic crashes or have been given traffic citations," he said.
Nationwide, based in Columbus, Ohio, is one of the country largest multi-
line insurers and financial services organizations.
