Info About Insurance

21st Century Insurance

A Complete coverage of 21st century Insurance and it's Insurance plans.

- 21st century Insurance company History

- Products

• Auto Policy

• Umbrella Policy

• Motorcycle Policy

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Disclaimer: The information was gathered from company sources to avoid any wrong information.

The Company's History:

21st Century Insurance's success story begins with its founder Louis W. Foster. After 20 years as an independent agent in the insurance business, Mr. Foster founded the original company in 1958 in Los Angeles as an inter-insurance exchange. An inter-insurance exchange is similar to a cooperative where policyholders work together to finance and insure the losses of the other policyholders.

The one-employee office grew rapidly and in 1966 the company moved to Century City to accommodate its expanding staff and volume of policies. The company celebrated a major milestone at the same time — achieving $1 million in premiums in a single year.

In 1968 the decision was made to convert the inter-insurance exchange to a capital stock company for two reasons. First, the federal government had minimized the tax advantages for the exchange. Second, the California Department of Insurance raised the capital and surplus requirements of reciprocals to $1 million. The decision was considered one of the most unique in the annals of business in California. The policyholders of the exchange ultimately became stockholders in the newly structured company. The profits in the exchange were used as a basis for measuring the amount of equity the policyholder would be entitled to in the new company. As a result, people who had bought insurance to save money received the added benefit of becoming stockholders. In 1969 the company wrote $2 million in premiums; $5 million was reached in 1972, and $10 million in 1975.

In 1980 the company moved from Century City to its current headquarters in Woodland Hills. Its spectacular growth continued upward with $100 million in premiums in 1982, $200 million in 1984, $500 million in 1987, and more than $1 billion in 1993. The company expanded into Arizona in 1996 and began operations in Nevada, Oregon, and Washington in 1998. 21st Century Insurance has more than 2,500 employees and occupies two 11-story headquarters buildings in Woodland Hills. The company also operates 14 division service offices, five vehicle inspection centers, and nine drive-in claim centers.

Auto Policy

Comprehensive (usually required if the auto is financed)
Pays for damage to your car resulting from such perils as fire, theft, vandalism, windstorm, glass breakage, explosion, etc.

Collision (usually required if the auto is financed)
Pays for damage to your car caused by collision with another vehicle, object or by upset.

Medical Payments
Pays for reasonable medical expenses resulting from an automobile accident and incurred within one year of the accident. It protects everyone in your automobile. Also protects you and household relatives while in another automobile for expenses beyond the limits of the policy covering that automobile. It also covers you or household relatives if you are struck by an automobile. There are two types of medical payments available.

Primary - pays for reasonably incurred medical expenses up to the policy limit.

Excess - pays for reasonably incurred medical expenses over and above what other medical insurers are prepared to pay, such as deductibles or co-payments. Available only to those carrying individual or group health or medical insurance. Should you recover damages from another person or organization, you must reimburse us for any payments we have made.

Rental Reimbursement
Pays up to $25 per day ($750 maximum) for a rental car if damages to your covered auto are payable under your collision or comprehensive coverage. If you rent a private passenger automobile from a rental agency within the U.S., its territories, possessions, or Canada, and it is not a substitute for a specific existing vehicle (for example, renting a vehicle while on vacation), your policy provides coverage for that rental automobile equivalent to the best coverage on your policy.

Additional Equipment Coverage
Additional Equipment Coverage may be purchased to extend your Comprehensive and/or Collision Coverage for certain equipment that is not the vehicle manufacturer's standard equipment or installed by a factory authorized dealer at the time of purchase. This may include audio or video equipment; tires and wheels; painted or finished surfaces; and engine, transmission, or suspension parts.

Towing and Labor (automatically included)
Pays up to $50 for towing and labor costs necessitated by the disablement of your covered vehicle. Call our 21st Roadside Assistance toll-free (800) 894-6090 to dispatch a tow truck 24 hours a day, seven days a week. 21st Roadside Assistance will bill us directly.

Uninsured Motorist Bodily Injury (UMBI)
If the driver or owner of the other motor vehicle involved in the accident is legally liable but uninsured or unknown, the bodily injury benefits of the uninsured motorist coverage are available to you and the occupants of your car. Coverage also includes underinsured motorists protection if the other driver's bodily injury limits are less than your bodily injury limits.

Uninsured Motorist Collision Deductible
Pays for collision deductible if damage to your auto is caused by direct physical contact with an uninsured motor vehicle provided that the uninsured vehicle or driver can be identified. You can select this coverage for any automobile covered by collision in an amount that matches your collision deductible.

Uninsured Motorist Property Damage
Covers damage to your auto caused by direct physical contact with an uninsured motor vehicle, provided that the uninsured vehicle or driver can be identified. You can select this coverage for any vehicle that is not already covered for collision.

Umbrella Policy

21st Century Insurance also offers a separate Personal Umbrella Policy of up to $5 million for liability coverage to qualified policyholders who maintain full coverage at specified limits on their personal automobiles insured with the Company.

The personal umbrella policy is not part of the auto or homeowner policies, and requires an additional premium. Please call 1-800-211-SAVE for information.

Motorcycle Policy

With every motorcycle policy you get:
 

• A full range of limit and deductible options
• Coverage for Towing and Emergency Roadside Service included with each policy
• Coverage for $1,000 worth of additional equipment included with Comprehensive or Collision coverage
• Coverage that extends up to 75 miles into Mexico

Rating Advantages:
 

• Six-month policies are available
• A rate for nearly every type of bike. We insure everything from mopeds and ATVs to 1,500 lb custom cruisers
• Different rates for every class of bike
• Rate reductions year over year as your bike ages and your experience increases

Policy Discounts:

21st Century Insurance offers discounts that can help you save money on your motorcycle insurance premiums.

 

• Good Driver Discount
• Multi-Policy Discount (15% off your motorcycle premium if you also insure an auto with us)
• Multi-Cycle Reduction
• Mature Driver Improvement Course Discount
• Anti-Theft Discounts for Audible Alarms