LoJack negotiates insurance discounts

Company negotiates benefits for motorcyclists who use its anti-theft device

By Motorcycle.Com Staff, Mar. 07, 2008

LoJack has reached an agreement with several insurance companies to provide discounts and waivers for motorcycle owners who use its stolen vehicle recovery system.

Motorcyclists with insurance policies with GEICO and Progressive will be able to take advantage of these benefits. LoJack is also expanding its existing agreements with Foremost Insurance Group and Rider Insurance.

“We’re pleased to establish and broaden these important relationships as they benefit both consumers who can protect their valuable bikes from theft and insurance companies that can help reduce the costs associated with theft,” says Ronald V. Waters, LoJack’s president and COO. “With motorcycle theft rates rising over the last five years and riding becoming increasingly popular, it is more critical than ever that bike owners do everything possible to protect their motorcycles from theft. These deductible waivers and discounts make it that much more attractive to arm motorcycles with LoJack’s proven recovery system.”

GEICO policyholders in New Jersey and Rhode Island will see an immediate 20% reduction on their deductibles. GEICO plans to expand this offer to other states in the near future. Progressive will offer the same discount to its policy holders in states where LoJack for Motorcycles is available.

Rider Insurance, which provides coverage in New Jersey and Pennsylvania, will waive 50% of the comprehensive deductible if a Lojack-equipped bike is stolen and not recovered. Foremost policyholders will receive a $500 deductible waiver if their LoJack-equipped bike gets stolen.