Average premium decrease of 10.75 percent effective January 7, 2006
COLUMBUS, Ohio, Oct. 19 /PRNewswire/ -- Nationwide Insurance announced
today that it is reducing homeowner rates in Nationwide Lloyds effective
January 7, 2006. The average premium effect will be a decrease of 10.75
percent for renewing Nationwide Lloyds customers in Texas.
"This rate decrease reflects Nationwide's long-standing commitment to the
Texas homeowners' insurance market and our desire to grow," said Chris
Baggaley, regional vice president of Nationwide's Texas operations. "While we
have concerns about future Texas weather events, we've discussed our goals and
concerns with the Texas Department of Insurance and feel our new rates will be
adequate yet competitive."
Additionally, based on the promising change to a new file-and-use rate
regulatory system, Nationwide has introduced a new homeowner company in Texas.
For new customers, Nationwide Property and Casualty Insurance Company offers a
much more detailed pricing system and competitive rates while maintaining the
same great comprehensive homeowners product and On Your Side(SM) service.
"Our new pricing model is very sophisticated and provides new customers
with a rate best suited to their unique circumstances. Many Texas customers
have taken advantage of this new opportunity, and we encourage everyone to
shop and compare," Baggaley added.
Nationwide has over a half million policies-in-force in Texas, including
more than 140,000 homeowner policies.
Nationwide, based in Columbus, Ohio, is one of the largest diversified
insurance and financial services organizations in the world, with more than
$157 billion in assets. Nationwide ranks #99 on the Fortune 100 list. The
company provides a full range of insurance and financial services, including
auto, homeowners, life, commercial insurance, administrative services,
annuities, mutual funds, pensions and long-term savings plans. For more
information, visit http://www.nationwide.com.
Nationwide and the Nationwide Framework are federally registered service
marks of Nationwide Mutual Insurance Company. On Your Side is a service mark
of Nationwide Mutual Insurance Company.
Contacts:
Joe Case (614) 249-6353
casej6@nationwide.com
SOURCE Nationwide Insurance
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Related links:
http://www.nationwide.com
Company News On-Call:
http://www.prnewswire.com/comp/607050.html
CONTACT:
Joe Case of Nationwide Insurance,
+1-614-249-6353, or casej6@nationwide.com
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