ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Tuesday, July 23, 1996 TAG: 9607230052
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
Nationwide Insurance said it has lowered its auto insurance rates in Virginia by an average of 4.3 percent. The company also expanded its discount for older drivers and is offering a new discount for customer loyalty.
The changes have been filed with the Virginia Department of Insurance and were effective July1. Nationwide is the third largest insurer in Virginia, where it covers 432,555 cars.
The company said the rate reduction averages $21 annually for customers with full coverage. Individual rate changes vary with the drivers' ages, accident and violation records, types and amounts of coverages and other factors.
The reduction comes because of continued improved claims experience in Virginia, particularly for bodily injury claims, the company said.
New for the company is a 5 percent discount for auto policyholders who are 50 years and older. The previous age was 55.
The company instituted a 2 percent discount for policyholders insured with the company for more than a year but fewer than five years. Nationwide already had a five percent discount after five years of continuous coverage.
LENGTH: Short : 33 linesby CNB