Economy Preferred Insurance Company. North Carolina Automobile. Age 55 and Over Deviation (See Rule 4.H.2 Optional Rating Characteristics)

Transcription

1 Age 55 and Over Deviation (See Rule 4.H.2 Optional Rating Characteristics) The Age 55 and Over Deviation applies to the premium for those vehicles that meet the following conditions: (1) the assigned operator is age 55 or over and an experienced operator (three or more years of driving experience), and (2) all operators on the policy have no SDIP points. The deviations for single car policies are: Single Car Deviation Factor Deviation Factor -1% % 0.99 The deviations for multi car policies are dependent on whether there are any inexperienced operators (less than three years of driving experience) on the policy: With Inexperienced Operator on Policy Multi Car Deviation Factor Deviation Factor -1% % 0.99 No Inexperienced Operators on Policy Multi Car Deviation Factor Deviation Factor -5% % % 0.94 coverages include Bodily Injury, Property Damage, Medical Payments, Uninsured Motorists, and Combined Uninsured and Underinsured Motorists. coverages include Comprehensive and Collision. The deviation does not apply to ceded policies. The deviation does not apply to consent to rate policies. Printed: October, 2007 (Amended) EPIC Deviation Page 3

2 (See Rule 4.H.2 Optional Rating Characteristics) A. Discount Eligibility Conditions In order to initially qualify for the Preferred Customer Discount, the policy must meet the following requirements: 1. Homeownership * The named insured must be an owner of a home or condominium (not a renter or mobile homeowner). To verify homeownership, the following is acceptable: a. the named insured carries a Homeowners policy (not a Renters or Mobile Homeowners policy) with a Metropolitan company, or b. the named insured carries a Homeowners policy (not a Renters or Mobile Homeowners policy) with another carrier, as verified by a current Declarations Page or Renewal Notice, or c. the named insured presents as proof a Mortgagee Bill or Deed for a home or condominium. * Exception: Homeownership is not required if the insured has carried an Automobile policy with a Metropolitan company for the past five years. 2. Coverage At least one of the insured vehicles must carry Comprehensive and Collision Coverage. 3. Driving Record and Claims History The Superior Driver Discount is always required. In addition, the following conditions must be met: a. no drivers in the household have been involved in an accident (regardless of fault) in the past three years, and b. no drivers in the household have been convicted of a moving violation in the past three years which generates driving record points under the SDIP Rule, and c. there must be no Comprehensive claims (excluding towing or glass) in the past three years. However, for single car policies, one non-theft/non-vandalism Comprehensive claim will be allowed and for multi-car rated policies two such claims will be allowed. Printed: October, 2007 EPIC Deviation Page 4A

3 3. Driving Record and Claims History (continued) For purposes of this rule, a not-at-fault accident is any accident with no negligence and no Bodily Injury or Property Damage payments made. Motor Vehicle Reports and CLUE Reports (or a letter from the prior insurance carrier) are required in order to verify driving experience and claims history. 4. Prior Preferred or Standard Insurance The named insured must have current insurance through a standard or preferred carrier. For the past twelve months of coverage, the policy must not have been ceded or under a Consent to Rate plan. Verification may be provided through a prior carrier Declarations Page or a letter from the prior carrier. 5. Driving Experience At least one driver on the policy must be licensed ten or more years as of the policy term effective date. In addition, all drivers on the policy must be licensed in the state of North Carolina. Note: Existing Metropolitan customers transferring coverage from another state must be licensed in the state from which they are moving. 6. Vehicle Types The following vehicle types will disqualify the policy from receiving the : a. any vehicle on the underwriting list of high performance, luxury or grey market vehicles, or b. any vehicle identified as "U" (Unacceptable) on the symbol pages. Printed: October, 2007 (Amended) EPIC Deviation Page 4B

4 7. Voluntary Rates The following conditions will disqualify the policy from receiving the : a. the coverages have been ceded to the Reinsurance Facility, or b. Consent to Rate applies. B. Continued Eligibility for the New business initially qualifying for the Preferred Customer Discount must satisfy all of the initial qualification criteria again at the first term renewal. However, not-at-fault accidents occurring subsequent to the initial qualification will not be considered when determining continued eligibility at the first term renewal. After the first term renewal, the will only be removed if the policy's coverages are ceded to the Reinsurance Facility of if Consent to Rate applies. Once the discount is removed, the policy must requalify by meeting all of the initial eligibility requirements. C. Mid-Term Changes Vehicles or operators added mid-term to policies receiving the will be rated with the applicable. Similarly, vehicles or operators added mid-term to standard rate level policies are rated at standard rates. At renewal, policies are subject to the usual qualification requirements. Printed: October, 2007 EPIC Deviation Page 4C

5 D. Rating Factors The applies to Bodily Injury (BI), Property Damage (PD), Medical Payments (MED), Comprehensive (COMP), and Collision (COLL) coverage premiums. Select the appropriate factor for each vehicle from the following table: Vehicle / Driver Conditions Standard Vehicle Nonstandard Vehicle Miscellaneous Types More than 2 SDIP points Assigned operator licensed Less than 5 years Preferred Customer Discount Factor Applicable Coverages BI PD MED COMP COLL Notes: (1) Nonstandard vehicles are those on the underwriting list of high performance, luxury, and grey market vehicles as well as any vehicle identified as a "U" (Unacceptable) on the symbol pages. (2) Miscellaneous Types vehicles are defined in Rule 19 and include trailers, motorcycles, and antique autos. Printed: October, 2007 (Amended) EPIC Deviation Page 4D