We were appointed to represent Penn National for personal lines last Fall, 2010. Established in 1919, the company now has more than $1 Billion in assets and ranks among the top 10% of the approximately 1000 US property-casualty groups (based on net written premium). Its insurance products are distributed through 700 independent agents. Penn National was chosen in 2010 for Best Places to Work in Insurance, Best Places to Work in Pennsylvania and Best Places to Work in Information Technology (IT).
Penn National offers auto, home, personal umbrella and dwelling fire at a very low cost for preferred customers. The personal auto program offers the lowest rates to those with stable financial situations who are claim-free. Drivers over age 60 often fare well under this program.
As of June 2011, a new home insurance program offers discounts for loss free, plumbing upgrades, electrical upgrades, heating upgrades, age of roof, new buyer, retired daytime occupancy and non-smoking. The home program offers HO-3 and HO-5 policy forms. The HO-5 program provides special form coverage for dwelling and personal property. The HO-3 policy provides special form coverage for dwelling, with broad form coverage for personal property.
A new Preferred Package Endorsement is available for the HO-5 policy form. Three enhanced coverage endorsements are available for the HO-3 policy form. The enhanced coverage packages are PennPac, PennPac Deluxe and PennPac Plus. These endorsements include water back-up/sump overflow coverage, personal injury liability coverage, identity fraud expense coverage and increased limits coverage for jewelry, firearms, silverware, trailers, business property.
Penn National ranked second in the 2010 Insurance Agents and Brokers Company Satisfaction Index for Personal Lines. They scored well in 1) product, pricing/underwriting, 2) policy service/claims,
3) technology and 4) agency relations with their highest ranking in the category of policy service/claims.
Our initial results with Penn National have been brisk with about 250 policies now in force.