Drivers in the state may soon see more attractive business car coverage rates.
GEICO (Government Employees Insurance Company) has just announced that commercial auto insurance policyholders in Maryland may soon be seeing much more favorable premiums and larger savings as the insurer changes its rating structure.
According to the regional vice president of Mid-Atlantic operations at GEICO, John Izzo, “As the largest insurer of personal autos in Maryland, GEICO already has a strong presence in the state.” He went on to explain that “In 2011 we implemented a new rating structure in Maryland for our commercial auto insurance product that has led to significantly lower premium rates for most risks.”
Izzo also stated that the insurer loves to be able to offer superior service and competitive prices in its commercial products.
The commercial auto insurance packages provide coverage for the cars, vans, and trucks that are driven by small businesses, such as retailers, contractors, professional services, caterers, as well as others. Beyond the coverage offered for an array of different vehicles used by businesses, GEICO also offers business owners’ and general liability policies.
The director of the insurer’s commercial lines, Kushwant Singh, stated that consumers are now able to use its products for all of their vehicle coverage needs, as well as their other requests to become insured. Singh added that the company is happy to be capable of providing this kind of coverage to Maryland businesses in an affordable way and that it is known for providing savings along with its policies.
The new rate structure is available on business plans for both new and existing customers.
The company’s official website is making insurance news all over the state as customers seek additional information about whether or not they will be able to benefit from the changes. There, they are using the quote tool to compare what they have with what they could or will be receiving.
GEICO is an insurer owned by Berkshire Hathaway, which is the third largest provider of private passenger vehicle coverage in the United States. It is also growing its commercial auto insurance share of the marketplace in Maryland and other states.