The Hartford Offers New 12-Month Auto Insurance Policies
Company's popular 'Dimensions' plan available in select states with guaranteed annual rates on new policies and discounts for auto and home customers
HARTFORD, Conn., Aug. 18 -- Many auto insurance policies are offered on a 6-month basis, and the rates for those policies can sometimes change when the policy is renewed. To give its customers the advantage of having one policy rate for an entire year, The Hartford Financial Services Group, Inc. , one of the nation's leading providers of investment and insurance products, announced that it is offering 12-month policy terms on its popular Dimensions personal auto insurance program, which is available through the company's network of independent agents.
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New customers in 20 states and the District of Columbia will be eligible to purchase a year-long policy if they also insure their homes with a companion Dimensions homeowners policy, or plan to do so within six months of obtaining their auto insurance. This offering, which includes a premium discount on both policies, will enable agents and their front line representatives to reach a greater number of customers with the following benefits:
* In contrast to many insurance companies, customers enjoy the same rate
throughout the year -- resulting in less fluctuation for consumers at
the six-month mark.
* Easier payments for policyholders to budget.
* A decrease in billing and related paperwork for agents.
* The convenience of insuring all vehicles under one policy with one
renewal date.
"We're always looking for ways to help our agents reach more customers with the best products and services possible," said Mike Concannon, senior vice president of personal lines for The Hartford. "Very few of our competitors offer a 12-month policy term, so this feature will be something that can benefit our customers and give our agents one more reason to quote The Hartford."
For a limited time, the 12-month policy terms are being offered to all customers in the District of Columbia and the following 20 of 40 states where The Hartford's original Dimensions auto plan is still available: Alabama, Colorado, Indiana, Idaho, Kentucky, Kansas, Louisiana, Maryland, Maine, Minnesota, Montana, Nevada, New Mexico, New York, North Dakota, Oklahoma, Pennsylvania, Tennessee, Virginia and Vermont.
In other states which have, or will be getting access to, a new version of the The Hartford's Dimensions program -- known as 'Dimensions with Auto Packages' -- customers may also be eligible for 12-month policies. Eligibility will depend on which one of the program's four available auto insurance packages they purchase.
About The Hartford's Dimensions Program:
Introduced in 2003, The Hartford's Dimensions auto program is a sophisticated underwriting plan that evaluates and connects a broad set of risk factors, enabling agents to generate a customized price, or rate, for each policyholder regardless of the risks and rates of other members in the same household. The plan was recently enhanced in 2006, and is now being rolled out on a state-by-state basis with four distinct package options, each providing a unique bundle of features and benefits to best match an individual's insurance needs.
With this personalized approach, agents are better equipped to keep their customers satisfied at every stage of life without drastically changing the price they pay for auto insurance year after year. Underwriting is also much easier for agents and their service representatives, who can take advantage of The Hartford's easy-to-use electronic quoting, submission and issuing systems. Purchased with a homeowners policy, The Hartford's Dimensions program provides a full range of protection that can help agents meet their customers' total insurance needs. For more information, agents can contact a personal insurance sales representative from The Hartford or visit the company's Electronic Business Center (EBC) at http://ebc.thehartford.com/. Customers who are interested in purchasing Dimensions insurance coverage should contact an independent agent of The Hartford in their area.
The Hartford, a Fortune 100 company, is one of the nation's largest financial services and insurance companies, with 2005 revenues of $27.1 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. The Hartford's Internet address is http://www.thehartford.com/.
Some of the statements in this release should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about our future results of operations. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include, without limitation, those discussed in our Quarterly Reports on Form 10-Q, our 2005 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
Joe Loparco Debora Raymond 860-547-3397 860-547-9613 Joseph.Loparco@thehartford.com Debora.Raymond@thehartford.comPhoto: http://www.newscom.com/cgi-bin/prnh/20051208/HARTFORDLOGO
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