Rating structure updated
Broker-only personal lines insurer, Highway Insurance, has overhauled its screen-driven EDI Choice Private Car product following a major review of its rating structure incorporating feedback from the broker market.
As a result its postcode and vehicle ratings have been updated and introductory bonuses for safe, experienced drivers introduced. The enhanced product also includes cover for child seats to reflect the move towards family vehicles.
The new product is effective for new business and renewals from 1st January 2008.
Chris Hill, Highway Managing Director said: “This re-launch is very much part of Highway’s overall strategy and the core aim is to widen our footprint and compete better in the general private car market – particularly super-minis and family oriented cars."
Hill said the product would not weaken market rates. "The re-launch of Highway Choice Private Car has been timed to coincide with the removal of all concessionary discounts and deals. Our aim is to appear more competitive on brokers’ screens for out target risks, with changes designed to ensure our overall premium strength is not reduced. We will continue to apply rate increases during 2008 to ensure premiums reach realistic levels.”
