All About 21st Century Auto Insurance?
21st Century Auto Insurance was founded by Louis W. Foster in 1958. With 20 years experience as an independent agent behind him he founded 21st Century as an inter-insurance exchange. This meant it would be run as a 'cooperative' enabling policyholders to collaborate to protect against losses of other policyholders.
Although it was initially a one-man concern 21st Century Auto Insurance
expanded quickly and moved to Century City in 1966 where it increased its staff and number of policyholders. At this point the company reached the 1 million premium mark.
In 1968 21st Century Auto Insurance
made the change to a capital stock company. This was largely due to the fact that the federal government had done away with several tax advantages and because the California Department of Insurance had raised capital and surplus requirements. Now policyholders were stockholders too and profits were used to determine the equity holdings of existing policyholders.
21st Century Auto Insurance is now offered from the company's headquarters in Woodland Hills. They also have offices in Arizona, Nevada, Oregon and Washington. They boast more than 2500 staff members and 14 division service offices, five vehicle inspection centers and nine drive-in claim centers!
21st Century Auto Insurance is currently the seventh largest personal auto insurance company in California. They are responsible for the security more then 1.5 million automobiles.
21st Century Auto Insurance policies cover personal vehicle, motorcycle, and umbrella insurance in California and automobile insurance in Arizona, Illinois, Indiana, Nevada, Ohio, Oregon, Texas and Washington. According to their Web site much of their business comes from word-of-mouth referrals who renew their policies at a rate of 90% each year.
This vote of confidence may have something to do with the $1.3 billion in net premiums written in 2004 and its $1.4 billion in revenues with and assets totaling $1.9 billion - an indication of 21st Century Auto Insurance financial strength.
For more details about 21st Century Auto Insurance contact:
21st Century Plaza
6301 Owensmouth Ave.
Woodland Hills, CA 91367
(818) 704-3700
