The Drive Group of Progressive Insurance Companies announced that it is lowering auto insurance premiums in Colorado by an average of 5.2 percent for new customers effective Sept. 6 and existing customers effective Oct. 16. The Drive Insurance from Progressive brand of auto insurance is sold by more than 750 independent agencies in Colorado.
“We’re lowering rates because Drive Insurance continues to see lower claims costs in Colorado as a result of the change from a no-fault system to a tort system,” said Jeff Ewing, Colorado product manager, Drive Insurance. “And our independent agents tell us that discounts are popular — understandably so — so we’re introducing two new ones to Colorado drivers.”
The company said the rate change is based on market conditions and its expected cost of doing business. This is the fifth time it has lowered its rates since July 2003, when state auto insurance reforms took effect switching from a no-fault to tort system. The 5.2 percent rate reduction is a statewide average that will affect individual customers differently, the company said.
“Our message to Colorado drivers is this: Now is the time to visit your local independent agent to make sure you’re getting the combination of coverage, service and price that’s right for you,” Ewing said.
Meanwhile, the company also is offering a 5 percent discount to customers who choose the convenience of making payments by electronic funds transfer (EFT); and a five-year accident-free discount that rewards safe driving with up to 7 percent off the premium.
Source; Drive from Progressive
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