METLIFE INTRODUCES BUNDLED AUTO AND HOME INSURANCE POLICIES
New York, June 26, 2014
MetLife Auto & Home® announced today the availability of Combo and GrandProtect, two bundled policies which provide the ability to combine auto and home coverages into one convenient package, in its mass marketed insurance program. The availability of these bundled policies in its mass marketed program will help provide employers with new ways to expand their benefit offerings and provide employees with simple service and savings.
“Our customers have told us they want quality and convenience when it comes to their auto and home policies,” said Kishore Ponnavolu, senior vice president, MetLife Auto & Home. “At MetLife Auto & Home we are committed to delivering just that. The Combo and GrandProtect products offer simplicity, convenience and value by packaging auto and homeowners insurance, while catering to individual insurance needs.”
Packaged policies make sense for employees: MetLife Auto & Home research finds that the majority of our customers, 60% prefer one bill for their account, and approximately 70% of consumers currently have their auto and home coverage with the same company. These offerings allow a wide range of customers to benefit from bundling—from individuals with leisure items such as boats or motorcycles, to those who have standard auto and home insurance policies.
Combo is designed for customer convenience. By packaging policies, customers can eliminate multiple bills and insurance forms, and enjoy the benefits of one common effective date, deductible, payroll deduction and policy portability. They can also take advantage of additional savings through a variety of discounts available, including a multi-policy discount, payroll and Deductible Savings Benefit. In addition, customers will have the ease of switching coverages with one simple application for multiple policies.
In addition to the benefits of Combo, GrandProtect is designed for customers with higher value assets and more demanding insurance needs, including primary and secondary homes; recreational vehicles; boats; and personal property such as high-value jewelry and family heirlooms1. GrandProtect policyholders also receive additional benefits such as a higher blanket property limit. Policyholders will also receive the benefit of one common deductible through an all-in-one policy package for all assets.
Through Combo and GrandProtect, customers can bundle up to 11 different MetLife Auto & Home policies into one package and through their employer are able to save through payroll deductions.
To learn more, please contact your local MetLife Auto & Home sales representative, visit www.metlife.com or call 1-800-GETMET8.
About MetLife
The MetLife Auto & Home companies, subsidiaries of MetLife, Inc. (NYSE: MET), are collectively one of the nation’s leading personal lines property and casualty insurance providers, insuring over 3.8 million autos and homes. Their affiliate, MetLife, is a leading global provider of insurance, annuities and employee benefit programs. MetLife holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
1 Coverage, rates, and discounts are available in most states to those who qualify.
MetLife Auto & Home is a brand of Metropolitan Property and Casualty Insurance Company and its affiliates, Warwick, RI.