City's Love Affair with Hybrid Cars also has Insurance Upside
HARTFORD, Conn.--(BUSINESS WIRE)--Aug. 26, 2008--Economically and
environmentally savvy drivers have set off a wave of hybrid car sales
in Chicago and statewide. A recent study from hybridcars.com ranks
Chicago as fifth on the list of top cities for hybrid sales. Illinois
also occupies the fifth spot among the states ranked in the survey.
This segment of car owners has grown significantly as fuel prices
remain near all time highs and there continues to be a growing concern
for environmental issues.
The top five cities for new hybrids(1) are:
Rank Metropolitan Area New Hybrid Sales
1. Los Angeles 17,638
2. San Francisco 11,155
3. New York 10,419
4. Washington DC 5,828
5. Chicago 4,862
The top five states for new hybrids(1) are:
Rank State New Hybrid Sales
1. California 39,830
2. Florida 8,810
3. New York 8,612
4. Texas 8,255
5. Illinois 6,107
Recognizing the interest in hybrid vehicles, Travelers made a
commitment to provide the right insurance solutions for this growing
segment. The company was the first to offer an auto insurance discount
of up to 10 percent(2) to hybrid drivers nationally when the trend of
driving a hybrid started taking off in early 2006.
"It is clear that there is a growing segment of the population
that is considering a hybrid vehicle and Travelers is committed to
offering innovative products that meet the needs of today's market
trends," said Lorie Kates, regional vice president, Travelers Personal
Insurance. "In addition to saving at the pump, Illinois hybrid drivers
can also save on their car insurance."
Research also shows that high gas prices are not the only reason
consumers are considering hybrid cars. According to the Polk Center
for Automotive Studies, 70 percent of hybrid owners bought their cars
to take advantage of tax breaks and because of high gas prices, 21
percent cited environmental concerns as the reason for buying a
hybrid. The remaining nine percent of those surveyed say they bought
hybrids because they are "futurists" - in support of the new
technology and design of hybrid vehicles.
For information about federal and state incentives for hybrid
owners and how to take advantage of the hybrid discount, visit
www.hybridtravelers.com.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading property
casualty insurer selling primarily through independent agents and
brokers. Travelers understands that life and business are inherently
dynamic and that the best way to serve customers is to deliver
insurance in-synch with evolving risks. The company's diverse business
lines offer its global customers a wide range of coverage in the auto,
home and business settings. Travelers is a Fortune 100 company, with
2007 revenues of approximately $26 billion. The company has more than
33,000 employees. For more information on being in-synch, visit
www.travelers.com.
- Hybridcars.com in partnership with Polk Center for Automotive
Studies, Registrations CYTD May 2008
- A discount of up to 10% applies only to certain coverages. The
discount may not be available in all states and is subject to
individual eligibility.
CONTACT: The Travelers Companies, Inc.
Sheila Trauernicht, 860.277.7461
Strauern@Travelers.com
or
Matt Bordonaro, 860.277.7014
MBordona@Travelers.com
SOURCE: The Travelers Companies, Inc.