Nuts & Bolts: Safeco announced a new motorcycle coverage designed to compete in a market that脮s growing steadily at an estimated 10 percent a year. The company said the average motorcycle owner is 38 years old with an annual median household income of $44,000. The new Safeco product targets baby-boomers who drive the heavier cruisers and touring bikes, but the market is wide open. The new motorcycle coverage fulfills a core Safeco strategy to offer a full line of personal insurance products and target a new segment of customers. The products benefits to agents-more cross-selling opportunities and better retention of existing customers脩are essential for Safeco to meet its goal of becoming a top-five national writer of auto insurance.
Dollars: Limits up to $500,000.
Carrier: Home State County Mutual
States Available: Texas, Indiana, Oregon, Colorado (National rollout continues through 2003)
Contact: Senior product manager Bob Enna, (720) 497-9454, bobenn@safeco.com
Was this article valuable?
Here are more articles you may enjoy.
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
Intersecting Risks and the Future of Construction Insurance 
Need Wind Mitigation? New Florida Insurer Wants to Help With That From This Issue
