MetLife Auto & Home, based in Warwick, is currently expanding its policies to offer more comprehensive insurance packages, an initiative the company expects will make consumers’ lives simpler.
This new comprehensive policy package would operate under the name GrandProtect and would provide personal insurance protection for consumers with complex insurance needs.
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“More and more people everywhere have complex insurance needs, for example they have multiple cars, rental property or motorcycles. This comprehensive policy package would simplify their lives because it would offer one bill and, best of all, one deductible,” said Joe Madden, assistant vice president of corporate communications and public relations at MetLife.
According to Madden, GrandProtect policies are more comprehensive in the sense that they offer the convenience of packaging auto, home and other personal insurance into one policy with one bill, one renewal date and one deductible. It also provides additional coverage that usually requires add-ons or endorsements, including higher built-in limits for jewelry, silverware and collectibles; worldwide liability coverage for rental cars and identity theft coverage.
“This kind of ‘package’ policy is ideal for people who have a lot of things to insure and the great thing is that it helps avoid coverage gaps,” Madden added. “Sometimes having different policies can be complicated, and this type of policy eliminates many worries and hassles.”
GrandProtect, which is already being introduced throughout Rhode Island, is available to qualified consumers that insure at least one home and one auto. It also allows consumers to insure multiple autos, residential property, boats, personal excess liability, recreational vehicles and motorcycles.
Madden added that GrandProtect packages contain a single loss deductible per occurrence, even if multiple parts of the policy need to be used.
“There’s only one deductible, which means that if a customer is affected by a hurricane and his home and auto are damaged, everything would fall under one deductible,” he said.
For autos, the policy packages such coverage as replacement cost for new-owned vehicles involved in a total loss during the first year or 15,000 miles, do depreciation for special parts and enhanced rental car damage coverage. The policy also contains $25,000 in expense reimbursement for individuals who become victims of identity theft, as well as, at no additional premium costs, identity theft resolution services to help people get their lives back in order.
