November 19, 2024
Providence Mutual announced it has entered into an agreement to allow for the transfer of auto insurance business to Plymouth Rock Assurance, whereby Plymouth Rock will provide auto insurance renewal offers to eligible Providence Mutual policyholders in Connecticut and New Hampshire.
As a leading personal lines insurance provider in the northeast, Plymouth Rock writes and manages more than $2 billion in auto, home and umbrella insurance premiums. Eligible Providence Mutual customers will receive a Plymouth Rock auto insurance offer prior to their policy’s nonrenewal date. It is expected that policies with renewal dates at the end of March 2025, or early April 2025, would be the first to go through this process.
Providence Mutual notified agents and regulators that the company made the decision to exit auto insurance for both commercial and personal lines in the four states currently offered – Connecticut, Maine, New Hampshire and Rhode Island.
“Exiting auto will give us more resources to invest in and enhance our core products, such as homeowners, dwelling, umbrella and BOP, which are growing,” said Michele Streton, president and CEO of Providence Mutual. “We have worked tirelessly to create a seamless experience for our insureds and agents during this transition and are pleased to have a partner like Plymouth Rock who shares in our commitment to delivering exceptional service to customers and agents alike.”
Providence Mutual has filed for a homeowner’s discount to be available for the companion homeowners policies impacted by this decision and expect to have it available for use in the first quarter of 2025. After this discount is available, the company will transition homeowner policies that have the multi-policy discount to the new discount as auto policies are non-renewed or moved by its agency partners.
About Plymouth Rock
Plymouth Rock was established to offer its customers a higher level of service and a more innovative set of products and features than they would expect from an insurance company. Plymouth Rock’s innovative approach puts customers’ convenience and satisfaction first, giving them the choice to do business the way they want – online, with a mobile app, by phone or by contacting their Plymouth Rock agent. Customers can chat, text or email to get answers quickly and easily. Plymouth Rock Assurance® and Plymouth Rock® are brand names and service marks used by separate underwriting, managed insurance and management companies that offer property and casualty insurance in multiple states. Taken together, the companies write and manage more than $2 billion in auto and home insurance premiums across Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Pennsylvania. Each underwriting and managed insurance company is a separate legal entity that is financially responsible only for its own insurance products. You can learn more about us by visiting plymouthrock.com.
About Providence Mutual
Founded in 1800, Providence Mutual is the nation’s fifth oldest insurance company, underwriting nearly $100,000,000 in written premium in diverse classes of business including homeowners and small commercial lines. The company’s long-term strategy is to continue writing personal and small commercial insurance through selected independent agents in the Northeast and New England while enjoying strong financial positioning and maintaining a focus on intuitive technology, customer service and delivery of superior claims handling. Headquartered in Warwick, RI, the company has received Best Places to Work in Rhode Island recognition for 17 consecutive years, and partners with selected independent agents in Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut, lower New York and New Jersey.
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