Main Street America Group Revamps Private Passenger Auto Coverage

PRODUCT: Main Street Protection Auto

COMPANY: Main Street America Protection Insurance Company

BEST RATING: A (Excellent)

AVAILABILITY: Main Street America-appointed independent agents with writing authority in the states where the product is available.

FOCUS: The Main Street America Group has completely revamped its private passenger auto offering. Main Street Protection Auto features enhanced endorsements as well as updated rates and underwriting, and will enable independent agents to offer a variety of discounts to insureds.

“We wanted to develop a product that would be embraced by our independent agents and their insureds by providing a rating approach that was simpler and easier to understand, as well as generating a more logical and predictable outcome,” says Debbie Murphy, vice president and head of personal lines at The Main Street America Group. “This is something we heard often from our agents about what was lacking in our current personal auto program. We worked hard to address it with Main Street Protection Auto.”

The product features 20 different types of discounts, including a new business discount, accident and violation free discount, loyalty discount and discounts for paying in full or signing up for electronic funds transfer. Insureds can also save if they place their homeowners insurance with a Main Street America carrier or have multiple vehicles on the policy.

“These discounts will be highly visible on customer-facing documents such as our redesigned quote proposal form and declaration page,” Murphy explains. “Collectively, the discounts and pricing improvements will enhance our competitiveness for the types of customers we are targeting to write those in the preferred and standard markets.”

Main Street America also enhanced its personal lines processing platform to make it easier for agents to write business with the company “and profitably grow their Main Street America personal lines book,” Murphy adds.

UNDERWRITING: Standalone coverages include features such as new vehicle replacement, full glass coverage and replacement of parts using original manufactured components versus generic parts. Bundled coverage options, known as Elite endorsements, are also available for qualifying vehicles. Key features include accident forgiveness, diminishing deductibles, loan/lease and extra medical coverage. Agents can mix and match Elite packages based on a customer’s coverage needs.

MINIMUM PREMIUM: $100.

TARGET: Multi-vehicle and multi-policy households; policyholders with full or mixed coverage, as well as prior bodily injury limits and purchased bodily injury limits greater than or equal to 50/100; drivers with an above-average insurance score and a clean driving record.

COVERAGE TERRITORY: CT, ME, NH, NY, PA, RI, SC and VA, with plans to launch in AZ, GA, MD, TN and VT this year.        

CONTACT: Debbie Murphy, vice president/head of personal lines; The Main Street America Group, 4601 Touchton Road East, Suite 3400, Jacksonville, FL, 32246; 800-207-0446.

Ronimarie Acord is an IA contributor.