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Progressive seeks trademark for Total Payout+ enhanced total-loss coverage
The proposed offering would compensate policyholders for more than a vehicle's actual cash value after a covered total loss, aimed at easing the transition from RV ownership to insurance.
Progressive has filed a trademark application for “Total Payout+,” a proposed vehicle insurance offering that would pay policyholders more than the vehicle’s actual cash value after a covered total loss.
According to Coverager, the company says the partnership is intended to help customers move from purchasing an RV to securing insurance, linking the coverage concept to a specific customer journey.
The trademark filing also indicates the concept would cover administration and underwriting of vehicle insurance programs, based on the scope described with the application.