Monday, Jan. 03, 1938
Safety Rebate
At least half the drivers of the 28,500,000 motor vehicles that crowd U. S. roads are conscientious, careful motorists who in no way contribute to the nation's half-million yearly highway casualties. Being considerate of themselves and others, they represent types most likely to insure against accident. And long have they complained that some way should be found, as in parts of Europe, to compensate them for their safe driving records. Last week the 38 big companies that comprise the National Bureau of Casualty and Surety Underwriters found the way, announced that all their policy holders carrying ordinary liability insurance who make no claim against their policies during a calendar year will be entitled to a refund of 15% of the premium. On a "$5,000 to $10,000" liability policy which costs $79 yearly, safe drivers will save $11.85. The new policies will go into operation Feb. 1 in most States. First rebates will be made a year hence.
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