LoJack's partnerships result in discounted insurance for motorcyclists
LoJack Press Release - Mar 4, 2008
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LoJack Corporation, the leading global provider of recovery systems for motorcycles, announced it has established relationships with GEICO and Progressive, and has expanded its agreements with Foremost Insurance Group and Rider Insurance to offer policy discounts and/or waivers of deductibles for motorcycle owners who purchase LoJack For Motorcycles.
“We’re pleased to establish and broaden these important relationships as they benefit both consumers who can protect their valuable bikes from theft and insurance companies that can help reduce the costs associated with theft,” said Ronald V. Waters, LoJack’s President and COO. “With motorcycle theft rates rising over the last five years and riding becoming increasingly popular, it is more critical than ever that bike owners do everything possible to protect their motorcycles from theft. These deductible waivers and discounts make it that much more attractive to arm motorcycles with LoJack’s proven recovery system.”
Details of Insurance Discounts & Waivers:
GEICO will offer policyholders in New Jersey and Rhode Island 20 percent off of their comprehensive coverage immediately, and plans to offer this discount to policyholders in other states in the near future. Progressive will offer policyholders with LoJack For Motorcycles 20 percent off of their comprehensive coverage. The discount, now available in Michigan, Ohio and Virginia, is expected to be offered in most states where LoJack For Motorcycles is available by the end of the year.
Under LoJack’s expanded agreements, Rider will now offer policyholders a 50 percent reduction on their comprehensive deductible if they have LoJack For Motorcycles, a theft occurs and the bike is not recovered. LoJack has enhanced its program with Foremost, the specialty insurer of Farmers Insurance, which began in March 2007. Under the expanded offering, Foremost will provide policyholders a deductible waiver of up to $500 if they have LoJack For Motorcycles installed and a theft occurs.
About LoJack Corporation
LoJack Corporation, the company that invented the stolen vehicle recovery market two decades ago, is the undisputed global leader in recovering valuable mobile assets. The company’s time-tested system is optimized for recovering stolen mobile assets through its proven Radio Frequency technology and unique integration with law enforcement agencies in the United States that use LoJack's in-vehicle tracking equipment to recover cars, trucks, commercial vehicles, construction equipment and motorcycles. The company’s Stolen Vehicle Recovery System delivers a 90 percent success rate for cars and trucks and has helped recover more than $4 billion in stolen LoJack-equipped assets worldwide. Today, LoJack operates in 26 states and the District of Columbia, and in more than 30 countries throughout North America, South America, Europe, Africa and Asia.
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