Praetorian Insurance Company is no longer stand-alone entity since QBE North America made the acquisition of the company. QBE Praetorian insurance company, a subsidiary of QBE North America under QBE Limited Group, offers FlexAuto program to help save cost on auto insurance policy.
QBE Insurance Group Limited is a global insurer that works mainly in Australia, but its subsidiaries reside in more than 38 countries worldwide. Besides running its business in Australia, the company is now major insurer in America, Europe, and Asia Pacific Region as well. As of August 2012, QBE stands among the world’s largest insurers with total assets of more than AUD 18.6 billion. The company has a total of AUD 742 million after tax, and the annual report described it as “encouraging and strong”
Praetorian Insurance Company works under QBE North America, which offers various insurance products including personal and business. Personal Insurance consists of Auto, Home, and Renters Insurance. In auto insurance category, Praetorian offers FlexAuto program which aims to help consumers reduce the cost of auto insurance premium rate through discounts and rewards. FlexAuto encourages consumers to maintain good driving records which will lead to rewards in the form of competitive rates. It allows the company to determine premium rate by looking at individual driving record. As a result, the price varies between customers even when they use identical type of car and have similar personal data such as profession, address, and types of coverage in the policy. According to the company, however, the reward is not available in all states yet. Consumers should contact their agency or local office for inquiry of availability.
In additions to individual pricing, Praetorian insurance company home page provides competitive rates for every customer eligible for discounts. There are currently five discounts available including Good Student discount, Violation Free or Accident Free discount, Proactive Consumer discount, Multi-policy discount, and Longevity discount. FlexAuto program also affects a number of coverage available from the company: Bodily Injury, Personal Injury Protection, Physical Damage, and Protection against motorist with low to none insurance.
Apart from the FlexAuto discounts and coverage, Praetorian Insurance Company includes Accident Forgiveness Program to prevent a surcharge in premium after renewal in case a customer files claims or there is any involvement in accident during the period of the previous policy. A common practice in insurance industry is to increase premium after an involvement in accident. Praetorian’s forgiveness program prevents such thing from happening to any customer who has had four years of continuous coverage with the company or at least three years of no at-fault claim.