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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. 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

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  1. Delaware Private Passenger Automobile Insurance Farm Family Insurance Company Robert Penick ACAS, MAAA Actuarial Services

  2. 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

  3. 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

  4. 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)

  5. 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.

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