Safe Auto Insurance Company is a property and casualty auto insurance carrier. The company was founded in in 1993 by Jon Diamond and Ari Deshe and is a privately held carrier and provider of state-minimum private-passenger auto insurance for drivers in the nonstandard insurance market in 17 states across the country, including Ohio, Indiana, Kentucky, Georgia, Pennsylvania, South Carolina, Tennessee, Louisiana, Mississippi, Illinois, Missouri, Arizona, Oklahoma, Kansas, Virginia, Texas and California.SafeAuto is licensed in 19 states and employs more than 700 associates across its headquarters in Columbus, Ohio, and its satellite offices in Woodsfield, Ohio, and Somerset, Kentucky. SafeAuto's annual revenue was more than $300 million in 2013. Since 2012, Ron Davies, former senior vice president with Allstate Insurance Co, took over the role of CEO; Diamond and Deshe remain involved with the company as chairmen and executive directors of the company's board. Davies has since opened two SafeAuto storefronts in Columbus, Ohio, to serve customers face to face.SafeAuto targets the nonstandard auto insurance market, in which it has specialized for over 20 years in providing liability coverage that meets states' required minimum limits. Deshe and Diamond founded the company on the idea that SafeAuto could serve this market, which includes high-risk drivers and drivers who require an SR-22 that other companies were hesitant to insure, better than any other insurance company could.Auto insurance risk selection is the process by which vehicle insurers determine whether or not to insure an individual and what insurance premium to charge. Depending on the jurisdiction, the insurance premium can be either mandated by the government or determined by the insurance company in accordance to a framework of regulations set by the government. Often, the insurer will have more freedom to set the price on physical damage coverages than on mandatory liability coverages.
When the premium is not mandated by the government, it is usually derived from the calculations of an actuary based on statistical data. The premium can vary depending on many factors that are believed to have an impact on the expected cost of future claims.hose factors can include the car characteristics, the coverage selected (deductible, limit, covered perils), the profile of the driver (age, gender, driving history) and the usage of the car (commute to work or not, predicted annual distance driven.The current system of insurance creates groupings of vehicles and drivers (actuarial classes) based on the following types of classifications.
Vehicle: Age; manufacturer, model; and value.
Driver: Age; sex; marital status; driving record (based on government reports), violations (citations); at fault accidents; and place of residence.
Coverage: Types of losses covered, liability, uninsured or underinsured motorist, comprehensive, and collision; liability limits; and deductibles.
The classifications, such as age, are further broken into actuarial classes, such as 21- to 24-year-olds, to develop a unique vehicle insurance cost based on the specific combination of attributes for a particular risk. change to any of this information might result in a different premium being charged if the change resulted in a different actuarial class or risk level for that variable. For instance, a change in the drivers' age from 38 to 39 may not result in a different actuarial class because 38- and 39-year-old people may be in the same actuarial class. However, a change in driver age from 38 to 45 may result in a different premium because the records of the insurer indicate a difference in risk associated with those ages and, therefore, the age difference results in a change in actuarial class or assigned risk level.
Current insurance rating systems also provide discounts and surcharges for some types of use of the vehicle, equipment on the vehicle and type of driver. Common surcharges and discounts.
Safe Auto Insurance
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Rating : 4.5
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Rating : 4.5
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