To help its customers combat commercial vehicle theft, Progressive, which sells commercial auto insurance to small businesses through independent insurance agents and brokers and also directly over the phone, entered into an agreement with LoJack Corp. to offer the LoJack Stolen Vehicle Recovery System to owners of commercial vehicles and construction equipment at a substantial savings.
In addition, Progressive customers in Florida who have or will be installing a LoJack System or another tracking and recovery device can call their independent agent or Progressive to receive a new 20 percent discount on comprehensive coverage. Similar discounts are already available to Progressive customers who have vehicle recovery devices installed in their commercial vehicles in New Jersey, New York and Rhode Island.
The only system of its kind operated by police, each LoJack Stolen Vehicle Recovery System includes a small wireless radio-frequency transceiver that is hidden inside a vehicle, the company says. Once the vehicle is reported stolen to the police, computers match the Vehicle Identification Number to the LoJack system. After the match, the LoJack system is automatically activated, emitting silent radio signals from the transceiver. Law enforcement vehicles and air units equipped with LoJack technology follow these signals to track and recover the stolen vehicle.
"The goal of this program is to help our customers protect their high-value vehicles and construction equipment and ultimately their livelihoods," said Dale Willis, product manager, Progressive. "If the combination of discounted comprehensive insurance coverage and vehicle recovery devices proves effective in reducing construction vehicle theft, Progressive will consider adding a discount on comprehensive coverage in other high-theft areas across the country."
"Trafficking valuable construction vehicles has become a lucrative and growing business for thieves around the country," said Kevin Mullins, senior vice president and general manager, LoJack Corp. "Stolen dump trucks, pick-up trucks, trailers and other construction vehicles have a high resale price."
The discounted LoJack stolen vehicle recovery system is available to Progressive customers for their commercial vehicles and equipment in the 26 states where LoJack operates. Installation of the system is included and there are no monthly fees.
Headquartered in Mayfield Village, Ohio, The Progressive Group of Insurance Companies, is a leading provider of auto insurance in the United States.
