Grange Insurance Introduces 36-Month Policy Option for Businesses

Insurance Weekly News

By a News Reporter-Staff News Editor at Insurance Weekly News -- Grange Insurance has launched a new 36-month commercial insurance package policy, helping select businesses spend less time focused on renewing their insurance each year and more time focused on what matters most-running and growing their businesses.

"As part of our commitment to independent agents and growing their commercial business, Grange is making significant investments to transform ourselves into a commercial carrier of choice," said Mike Winner, Grange Insurance President of Commercial Lines. "Our commitment to the 36-month package policy is an example of one of these investments."

Grange's 36-month package policy gives commercial policyholders that qualify the opportunity to have consistent, stable rates, terms and conditions for 36 months, or three years, along with a simple, streamlined annual update process.

Grange Insurance is one of only a few insurance carriers to offer businesses a 36-month commercial insurance policy, giving its customers an alternative to traditional annual policies where the rate can change each year.

"This product will help differentiate Grange from our competitors," Winner said. "It will also let us stand out in the commercial insurance space and be a great partner and leading commercial carrier for our independent agents."

Though the rate, terms and conditions will remain the same, 36-month policyholders can still update their insurance policy mid-term and adjust the overall premium to reflect business changes and changes in risk exposure, such as adding more employees or streamlining operations. Businesses can also pair the 36-month policy with other annual policies within a single account.

Grange Insurance's 36-month policy is just one of many investments Grange is making on its path to becoming a preferred commercial carrier for its independent agents. Those investments include both its consultative underwriting approach and Risk Management Consulting services to help its independent agents solve the insurance needs of their commercial customers, and to help those commercial customers improve workplace safety and avoid losses.

Most recently, the company launched a new cyber coverage for businesses in 2016 that gives policyholders access to cyber security protection services from CyberScout. About Grange Grange Insurance, with $2 billion in assets and more than $1 billion in annual revenue, is an insurance provider founded in 1935 and based in Columbus, Ohio. Through its network of independent agents, Grange offers auto, home, life and business insurance protection. The company and its affiliates serve policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin. View source version on businesswire.com: http://www.businesswire.com/news/home/20170822005754/en/