Business & Finance
Business and Finance
Business and Finance
Thu, February 24, 2011 
HARTFORD, Conn.--([ BUSINESS WIRE ])--Travelers (NYSE: [ TRV ]) today announced another way for customers to save on [ auto insurance ] with the unveiling of its New Car Discount. The New Car Discount provides savings of up to 10 percent on auto [ collision coverage ] for new vehicles. It applies to vehicles less than three years old, with the level of discount based on the cara™s model year.*
"It can be easy to get caught up in the features and looks of a new car, but ita™s important to make sure your new investment is properly protected."
aThe New Car Discount is one more way that Travelers is helping customers save money while delivering peace of mind that they have the right [ auto insurance coverage ],a said William Pearse, Vice President of Product Strategy and Design for Travelers. aIt can be easy to get caught up in the features and looks of a new car, but ita™s important to make sure your new investment is properly protected.a
New car sales have grown in many vehicle segments when comparing year-end figures from 2009 and 2010.** When it comes to [ purchasing a new car ], insurance costs and coverage may be one of the furthest things from a consumera™s mind. A recent nonscientific online poll on [ Travelers.com ] revealed that when consumers were asked what they consider when buying a car, the make and model of the vehicle was the top answer. Insurance costs and coverage received the least amount of votes. By not considering insurance during the car-buying process, many new-car buyers could potentially be exposed to financial risks or miss savings opportunities. More than 1,600 consumers took the poll, which asked the top considerations when buying a new car. The numbers below rank the final results:
- Make/Model 53.1%
- Safety 31.3%
- Options 6.3%
- Resale Value 5.8%
- Insurance Cost/Coverage 3.5%
When buying a new car, there are specific insurance coverages and discounts to consider. For instance, Loan or Lease Gap Coverage can protect new- or leased-car owners by [ covering the gap ] between the actual cash value of the vehicle at the time of loss and the unpaid principal due on the loan or lease in the event of a total loss to a vehicle. In addition, Repair or Replacement Collision Coverage can help to ensure a customera™s new car is replaced with a new vehicle of the same make and model if a total loss occurs.***
aBuying a new vehicle is a big purchase and insurance considerations should be part of the process. Considering insurance could save someone hundreds of dollars both in the short term, with the right discounts, as well as in the long term with the right coverage and policy limits should something go wrong,a said Pearse. aAn [ independent insurance agent ] or insurance provider can make sure an auto policy has the right coverages, discounts and limits to sufficiently protect a drivera™s assets.a
In addition to the New Car Discount, Travelers offers many other coverage [ advantages and discounts ] to its auto insurance customers such as Accident Forgiveness, Paid in Full Discount, Safe Driver Advantage, a discount for hybrid vehicles, and a Multi-Policy Discount.**** Information about all of Travelersa™ discounts as well as auto insurance [ coverage basics ] is available at [ Travelers.com ].
About Travelers
The Travelers Companies, Inc. (NYSE: [ TRV ]) is a leading property casualty insurer selling primarily through independent agents and brokers. The companya™s diverse business lines offer its global customers a wide range of coverage in the [ auto ], [ home ] and [ business ] settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010. For more information, visit [ www.travelers.com ].
*A discount of up to 10% applies only to collision coverage.The discount may not be available in all states, for all products and is subject to individual eligibility.
** Wall Street Journal, Auto Sales Market Data Center. [ http://online.wsj.com/mdc/public/page/2_3022-autosales.html ]
*** These are simplified descriptions of coverage. Whether a particular loss is covered depends on the specific facts and the provisions, exclusions and limits of the actual policy. These coverages may not be available in all states and are subject to individual eligibility.
**** Discounts and advantages may only apply to certain coverages, may not be available in all states and are subject to individual eligibility.
