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Delaware Private Passenger Automobile Insurance. Farm Family Insurance Company Robert Penick ACAS, MAAA Actuarial Services. Summary. Private Passenger Automobile Program Currently have 2,909 policies Filing Originally filed 14.3% rate increase Amended filing to 9.9% rate increase

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delaware private passenger automobile insurance

Delaware Private Passenger Automobile Insurance

Farm Family Insurance Company

Robert Penick ACAS, MAAA

Actuarial Services

summary
Summary
  • Private Passenger Automobile Program
  • Currently have 2,909 policies
  • Filing
    • Originally filed 14.3% rate increase
    • Amended filing to 9.9% rate increase
    • Base rates and model year factors
    • Annual premium per vehicle - $856
    • Annual premium change per vehicle - $85
  • Prior Rate Changes
    • 9.9% 02/2011
    • 10.4% 02/2007
    • Prior change 12/2002
losses and expenses per 1 of premium
Losses and Expenses per $1 of Premium

2007 $1.20

2008 $1.17

2009 $1.15

2010 $1.01

2011 $1.20

Past 5 years $1.15

Past 3 years $1.12

discounts
Discounts

Defensive Driving Discount (10-15% for Liability premiums)

Safe Driver Discount (5-10% for Liability and Collision premiums)

Package Account Discount (10%)

Good Student Discount (10-12%)

Driver Training Discount (10%)

Full Coverage Discount (5%)

Renewal Discount (2%)

Passive Restraint Discount (Up to 30% on PIP premiums)

Anti-Theft Device Discount (5-15% for Comprehensive premiums)

Multi-Car Discount (5-30%)

Anti-Lock Brake Discount (5% for BI and PD premiums)

discounts1
Discounts
  • Defensive Driving Discount (10-15% for Liability premiums)
    • Applies when an operator receives a certificate certifying voluntary attendance and successful completion of an accident prevention course or motorcycle rider course approved by the Insurance Commissioner.
  • Safe Driver Discount (5-10% for Liability and Collision premiums)
    • Applies when a policy has been continuously insured with Farm Family and all drivers have been licensed for 5 years or more claim-free and conviction-free.
  • Package Account Discount (10%)
    • Applies when an owner-occupied residence is insured with Farm Family.
  • Good Student Discount (10-12%)
    • Applies when a youth under 21 years of age is a full time student and is in the top 20% of their class or maintains a “B” average.
  • Driver Training Discount (10%)
    • Applies when a youth under 21 years of age successfully completes a qualifying driver education course.