Farmers Insurance Group of Companies Extends Hybrid Vehicle Discount to 37 States, Recognizes Toyota
Farmers Was First in Offering a Hybrid Insurance Discount in the U.S.
LOS ANGELES--(BUSINESS WIRE)--Farmers Insurance Group of Companies announced today it is offering a new discount to its auto insurance customers who own a hybrid or alternative fuel vehicle.
Farmers was first in the country to offer the hybrid vehicle discount beginning in California in 2005.
"Today we are pleased to announce that we have expanded the discount to 37 additional states," explained Bill Martin, vice president of auto insurance for the Farmers Insurance Group of Companies. "We recognize that with high gasoline costs, many of Farmers' customers are opting to drive environmentally friendly hybrid automobiles like the number-one selling hybrid in America, the Toyota Prius. We applaud Toyota and our customers who are concerned about the environment and are happy to offer them a discount on their auto insurance," Martin said.
"Our research shows that drivers of hybrid vehicles are more mature, drive fewer miles and are more environmentally conscious than the average driver," Martin said.
The discount is up to 10% (currently 5% in California) and applies to all major auto insurance coverages-bodily injury and property damage liability, uninsured/underinsured motorist coverage, medical payments, comprehensive and collision coverages.
"With more hybrids entering the market, Toyota is happy to see Farmers offer discounts that help the pocketbooks of hybrid vehicle owners and encourage drivers to explore alternative fuel vehicles for their purchases," said Celeste Migliore, Toyota national advanced technology vehicle manager. According to R.L. Polk & Co., a firm that collects and interprets automotive information, the United States has 70% of the global sales of hybrids or nearly 200,000 new registered hybrid vehicles during 2005. Today, that number has more than doubled.
The discount is available for all Farmers' customers who own a hybrid or alternative fuel vehicle. All new business customers will receive the discount as of the new business day of their insurance policy going into force, and existing customers will receive the discount upon their next renewal date.
The Farmers Insurance Group® of companies comprise the nation's third-largest personal lines property and casualty insurance group-helping to restore the lives of over 15 million customers when the unexpected happens. Headquartered in Los Angeles and doing business in 41 states, these companies provide homeowners, auto, business, recreational products, life insurance and financial services to more than 10 million households through 17,000 exclusive and independent agents and district managers. For an agent near you, call 1-800-FARMERS or visit www.farmers.com.
Toyota Motor Manufacturing, Kentucky recently celebrated the production launch of the Camry Hybrid, making it Toyota's first plant in North America to assemble a hybrid vehicle. The Camry Hybrid joins a growing Toyota and Lexus hybrid lineup in the U.S., which currently includes the groundbreaking Toyota Prius, Lexus RX 400h luxury hybrid sport utility vehicle (SUV), Toyota Highlander Hybrid mid-size SUV, and the 2007 Lexus GS 450h hybrid luxury sedan. In 2007, Lexus will be adding the LS 600h to the hybrid lineup. Since Toyota began selling hybrid vehicles in North America in 2000, the company has sold approximately 420,000 hybrid vehicles here. In 1997, Toyota became a pioneer in the industry by launching the Prius, a mass-production hybrid vehicle with outstanding environmental performance. Toyota has positioned hybrid systems as a key technology for the twenty-first century and is taking measures to promote the widespread use of hybrid vehicles. Please visit www.toyota.com/hsd for more information on Toyota's hybrid vehicles and Hybrid Synergy Drive.