From AP via MSN:
Progressive Corp. is providing collision coverage for customers' dogs or cats at no additional premium cost. It will pay up to $500 if a customer's dog or cat is hurt or dies in a car accident.
There are over 150 million pets in the U.S., and Americans spend over $40 billion on their pets annually, according to a recent Insurance Information Institute study.
The Progressive benefit has been in place since Sept. 6, and it's still too soon to determine if the company's undetermined cost of offering it will be offset by better sales, Progressive spokeswoman Leah Knapp said.
Progressive is the third-biggest auto insurer, ranking behind State Farm and Allstate and slightly ahead of National Indemnity (Berkshire Hathaway), which includes GEICO.
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