[October 17, 2014] |
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Progressive Insurance Announces New Boat Coverages in the Sunshine State Designed to Get Boaters Back on the Water Fast
MAYFIELD VILLAGE, Ohio --(Business Wire)--
The
Progressive® Group of Insurance Companies is introducing
a lineup of new coverage options in Florida. Sign & Glide® On-Water
Towing, Propulsion Plus®, Trailer Trip Interruption and Total
Loss Coverage for PWCs are designed to provide customers with a
carefree boating experience.
According to data from the National Marine Manufacturers Association
(NMMA), Florida is one of the top five boating states in the country and
ranks the highest in total boat registrations1. Progressive
is leading the way to offer unique coverage offerings that will keep
water enthusiasts and their watercraft safe and protected, combined with
affordable premium options.
"We insure more than one million watercraft and are constantly combing
through customer feedback to understand what resonates with our
customers and where we can improve," said Rick Stern, Progressive Boat
Product Manager. "Building off of our strong base of coverage offerings,
we raised the bar with industry firsts like Propulsion Plus®
and Sign and Glide®, all while lowering rates for new
customers who boat in Florida."
The set of coverage offerings now available in Florida include:
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Sign
& Glide®: The average cost
of an on-water tow in Florida is $7122, but this innovative
coverage offers comprehensive assistance while on the water for only
$50 a year with no extra charges. If a watercraft becomes disabled,
Progressive will pay for towing, jump starts and fuel delivery. With
one call to the dispatch center, everything is taken care of -
Progressive arrangesfor the tow and then pays the tow operator
directly once the service has been provided and completed.3
It's as simple as signing and gliding.
-
Propulsion
Plus®: Created as a direct
result of customer feedback, this coverage pays to repair or
replace the lower unit of an outboard motor, or the outdrive of a
stern drive motor in the event of mechanical breakdown - even if the
breakdown is caused by wear and tear. Propulsion Plus is available as
an optional coverage for as little as $38 per year. Replacing the
propulsion system on a boat can cost thousands of dollars, so the
coverage can help save you money in the event of a mechanical
breakdown.
-
Trailer Trip Interruption: If you are more than 100 miles from
home and your tow vehicle or trailer is disabled while towing your
boat, Progressive will pay up to $500 per occurrence for food,
lodging, and transportation until you're back on the road. All
of these benefits for only $10 per year. Customers are insured for a
daily maximum of $100 for lodging, $50 for alternative transportation
and $50 for food while the trailer or motor vehicle is being repaired.
-
Total Loss Coverage (TLC) for PWCs: With TLC, if a customer's
PWC is deemed a total loss within the first three model years,
Progressive won't pay the depreciated value of the totaled PWC, but
instead will pay the current model year's MSRP. We protect our
customer from both depreciation and inflation for only $25 per year.
To find out more about Progressive Boat Insurance, talk to your
independent agent, visit http://www.progressive.com/boat/
or call 1-800-PROGRESSIVE.
About Progressive The
Progressive Group of Insurance Companies makes it easy to understand,
buy and use auto insurance. Progressive offers choices
so consumers can reach it whenever, wherever and however it's most
convenient-online at progressive.com, by phone at 1-800-PROGRESSIVE, on
a mobile device or in-person with a local agent.
Progressive also offers insurance for personal and commercial autos and
trucks, motorcycles, boats, recreational vehicles, as well as home
insurance through select carriers. It's the fourth largest auto insurer
in the country, the largest seller of motorcycle
insurance and a leader in commercial auto insurance. Progressive also
offers car insurance online in Australia at http://www.progressiveonline.com.au.
Founded in 1937, Progressive continues its long history of offering
shopping tools and services that save customers time and money, like Name
Your Price®, Snapshot®
and Service
Centers.
The Common Shares of The Progressive Corporation, the Mayfield Village,
Ohio-based holding company, trade publicly at (NYSE:PGR).
___________________________ 1 Based on 2012,
Florida had 870,031 boat registrations. 2 Data from
Compass (News - Alert) Marine's 2014 towing costs. 3 When an operator
cannot accept direct payment from Progressive, Progressive will
reimburse a customer within two business days.
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