Farmers Announces Lower Rates and a Helpful Auto Buying Solution for the New Millennium
3 January 2000
Farmers Announces Lower Rates and a Helpful Auto Buying Solution for the New Millennium
LOS ANGELES--Jan. 3, 2000--Farmers has adjusted rates for comprehensive and collision coverages on many popular selling automobiles, resulting in savings of approximately $3.7 million territory-wide.Farmers was able to pass on these savings to its customers who have comprehensive and collision coverages on these vehicle models. Farmers also wants to pass on these savings to consumers buying new cars. In addition to letting customers know which vehicles offer favorable insurance rates, a Farmers agent can also offer the Auto Buying Solution to help make the auto-buying experience hassle-free.
"Buying a car or truck is a major investment for most consumers. That's why we encourage our customers, and auto-buying consumers, to contact their local Farmers agents when they're getting ready to buy their next car or truck," said Susan Bithell -- Director of Personal Lines Marketing for Farmers.
"It isn't enough to compare sticker prices anymore. You also need to consider the vehicle's safety features, operating cost and the cost of insuring it. Your Farmers agent can help you make an informed decision and may save you money on your next vehicle purchase."
Farmers' Auto Buying Solution covers these four steps -- Auto Selection, Auto Buying, Auto Loans and Auto Maintenance -- helping auto-buying consumers from start to finish.
Auto Selection: Selecting the right vehicle model can help save money on insurance. Farmers lowered rates on many popular selling vehicles. More than 130 models will qualify for better insurance values because they are rated below their MSRP (Manufacturer Suggested Retail Price) value. These vehicles are safer, less likely to be stolen and less expensive to repair. Insuring them helps keep down claims costs. Therefore, Farmers can offer more favorable comprehensive and collision rates on them.
Auto Buying: Once a buyer is ready to shop, Farmers Auto Buying Service can help improve the buying experience. Special pricing is available through selected participating dealers. One can even get detailed pricing reports on their vehicle of choice providing valuable information, including the factory invoice price and MSRP.
Auto Finance: Farmers can help finance the buyer's vehicle of choice. With Farmers' Auto Loans Program, a buyer can obtain financing at a competitive rate through their local Farmers agent.
"Proper maintenance on your vehicle is essential to retaining its value and keeping you safe while operating it," said Bithell.
Auto Maintenance (and Debt Protection): Farmers offers the following four services to help maintain and protect the vehicle after it is purchased: Mechanical Breakdown Insurance, Farmers Towing and Road Assistance Service, Windshield Glass Repair Program, and Residual Debt Insurance.
Mechanical Breakdown Insurance can help protect the vehicle against unexpected costly repairs. Farmers Towing and Roadside Assistance Service can help protect against unexpected breakdowns on the road. Windshield Glass Repair Program can help take the hassle out of repairing auto glass damage. Residual Debt Coverage can help protect against financial loss if the vehicle is involved in a total loss claim. (This coverage is not yet available in Texas.) This coverage fills in the gap between the vehicle's actual cash value and loan amount.
Farmers' Auto Buying Solution is just one example of the personal attention and peace of mind that comes with being a part of the Farmers family. Talk to a local Farmers agent to get a full listing of vehicles with better insurance values, more information on the Auto Buying Solution and other helpful services.
Keep in mind there are many factors that determine insurance premiums including driving record, driving experience, annual miles driven, applicable discounts and the vehicle's loss experience. Therefore, not all Farmers customers will experience a rate decrease as a result of the adjustment of the comprehensive and collision rates.
Farmers is the nation's third-largest home and auto insurer. With headquarters in Los Angeles and doing business in 41 states, Farmers provides home, auto, business and life insurance to more than 8 million households through 15,000 agents and district managers.
Note to Editors: The new comprehensive and collision rates go into effect on Jan. 1, 2000 for all states where Farmers does business, except Texas where a similar state-mandated program is used.
