The Hartford Financial Services Group Inc. said it plans to lower auto insurance rates for many of its personal auto insurance policyholders under the Dimensions program, sold through the carrier's independent agents network.
The Hartford, Conn.-based carrier said the lower prices would affect approximately one-third of existing and prospective customers. Policyholders would see an annual savings of $100 or more for 25 percent of these reduced-price customers. The changes will become effective Feb. 15 for new policies and April 5 for renewal business.
“The auto insurance market is extremely competitive, and we're constantly reviewing our rates to remain a top player in the state,” said Mike Concannon, senior vice president, The Hartford. “While Dimensions is already a huge success, we're thrilled to be offering it at even lower prices. This will certainly give our 117 personal lines agents in Indiana one more reason to quote The Hartford.”
The Dimension program rates policyholders individually by calculating numerous risk factors. The system allows the insurer to rate one policyholder without affecting the rates of others in the same household.
The Hartford said this is the third time in the past year it has voluntarily lowered personal auto insurance prices in Indiana. During that same period, the company went on to say, it has also grown the number of its agency relationships from 71 to 117.
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