BMW Financial Services Introduces Personal Insurance Program
11 October 1999
BMW Financial Services Introduces Personal Insurance Program - Comprehensive and Competitive Quotes Encourage Consumers
To Compare Insurance Products -
WOODCLIFF LAKE, N.J., Oct. 11 -- BMW Financial Services is
now providing BMW customers access to a personal insurance program that will
provide high quality coverage and a hotline where they can obtain competitive
quotes.
The BMW Personal Insurance Program, offered through the Chubb Group of
Insurance Companies' affiliate, Chubb Insurance Solutions agency, will feature
a complete line of insurance products designed to protect automobiles, homes,
antiques, collectibles and watercraft.
Stefan Krause, President and CEO of BMW Financial Services' Americas
Region, said "Our goal is to enhance the ownership experience by making it
easy for our customers to obtain coverage which fits their lifestyle needs.
For some, this means getting multiple quotes where rate sensitivity is a
priority; for others, the convenience of "one stop shopping" for their
insurance needs is the decisive factor. We know how important lifestyle
protection is to our customers, so it was crucial that the program provide
more than typical service and coverage. The policies available through the
BMW Personal Insurance Program can give our customers the peace of mind that
comes with knowing that their BMW and other valuable possessions are protected
by high quality insurance products."
To help customers decide on coverage that best fits their personal
situation, Chubb Insurance Solutions has a convenient, toll-free number,
877-BMW-3578 (877-269-3578). Insurance client advisors answer consumers'
questions and provide sound advice on a broad range of insurance needs. In
addition to the complimentary consultation, callers can receive cost
comparisons on products offered by Chubb and other select insurance carriers
in their state.
Mr. Krause also noted that "while many customers may think that all
automotive insurance is the same, BMW Financial Services believes that there
are significant differences that would appeal to BMW drivers. We wanted the
BMW Personal Insurance Program to provide competitive, comprehensive coverage
which can pay more at the time of a loss."
The options available through the BMW Personal Insurance program include:
Personalized Advice -- Coverage is available from multiple, quality
insurance companies. The customer can get sound advice to help them find
the most comprehensive solution for their insurance needs.
Agreed Value -- Allows the customer to decide ahead of time upon the
settlement value for their BMW and help avoid costly surprises at the time
of total loss.
Replacement With Original BMW Parts -- Allows repairs to be made with
original BMW parts at the repair shop of the customer's choice, including
their BMW center.
Reimbursement For A Rental Car Comparable To A BMW -- When a car is being
repaired due to an accident or other covered loss, insurance can help pay
for a rental car comparable to a BMW.
BMW Financial Services N.A., Inc. was established in 1993 as a captive
finance company to support the North and South American sales and marketing
efforts of BMW and Land Rover. With almost $9.5 billion in managed assets and
300,000 customers, BMW FS leases or finances one out of two new BMWs and Land
Rovers sold in the U.S. BMW FS has over 300 employees, most of which are
located in their Dublin, Ohio, Customer Service Center. BMW FS also services
the Canadian market and just recently opened a new Financial Services company
in Brazil.
Chubb is a leading national and international insurance organization
founded in 1882. Member insurers of the Chubb Group of Insurance Companies
form a multi-billion dollar organization providing property and casualty
insurance for personal and commercial customers worldwide. Chubb's global
network includes branches and affiliates throughout North America, Europe,
Latin America, Asia and Australia. It earns the highest ratings for financial
strength from A.M. Best, Standard & Poor's, and Moody's. Chubb Insurance
Solutions Agency, Inc. is an affiliate of Chubb and a licensed insurance
agency.
Information about BMW products and programs is available via the World
Wide Web. The address is: http://www.bmwusa.com.
