GMAC Insurance Fact Sheet

Founding

Founded in 1939, GMAC Insurance is a subsidiary of GMAC Financial Services.

Overview

GMAC Insurance's U.S. Personal Lines business offers a variety of property and casualty insurance products, including personal auto, motorcycle and recreational vehicle insurance. Serving the insurance needs of GM/GMAC employees, affinity group members and the broader consumer market through a network of sales and service employees, and claims professionals, these products are marketed through multiple distribution channels, including through independent agents and at gmacinsurance.com.

Our Story

In the early 1900s, when the motor vehicle industry was just in its infancy, dealers paid cash to stock their inventory, purchasing just a few vehicles at a time. Subsequently, with the onset of the assembly line, dealers began to buy vehicles in larger quantities. To help dealers buy larger quantities and assist their customers with obtaining retail financing, GM created GMAC in 1919. By 1939, the fast growing financial arm of America's premier auto manufacturer expanded its offerings to include insurance options. During the next 70 years, GMAC would grow to operate and service customers throughout North America, South America, Europe and Asia-Pacific.

On October 19, 2009, the company entered into an agreement to divest its U.S. property and casualty consumer insurance business to American Capital Acquisition Corporation. The transaction is pending regulatory approval and other customary closing conditions. GMAC Insurance customers can expect business to continue as usual, and to receive the same high level of service. All parties involved are committed to making the transition as seamless as possible. If policyholders have any questions or concerns, they can continue to contact GMAC Insurance’s customer service center at1-800-GMAC-123.

Our Promise

As the country's only insurance company to come from within the automotive industry, GMAC Insurance has a unique perspective. The company understands that, to Americans, a car is more than a transportation tool. It is a tangible link to our freedom, self-expression, and most of all, the fundamental catalyst that keeps our lives moving.

In the event of an accident, GMAC Insurance's first priorities are to make sure its customers are safe and receiving the proper medical attention, if necessary. Then the company focuses on getting customers back on the road as quickly as possible.

From its SmartServices^®, a first-of-its-kind collection of benefits designed to help ease the post-accident recovery process, to its customer service representatives that make you feel like a person and not a policy number, GMAC Insurance is built from the ground up to anticipate, understand and meet its customers' needs.

Our Products and Services

GMAC Insurance Personal Lines offers insurance products tailored for individual drivers, RV owners, modified specialty vehicles and homeowners.

• Personal Vehicle Insurance – The products and services at GMAC Insurance are a distinctive experience – not merely about insurance policies.  The company treats customers as people.  GMAC Insurance underwrites the full spectrum of American drivers – young to old and of all driving experiences and histories – with services that can better assist customers in their daily lives.  And it has been recognized for some of the most innovative and supportive services, including its nationwide towing service, 24/7 claims service, and its SmartServices, including the SmartParts Promise^® and SmartReplacement^® Program.
• Affinity Groups – GMAC Insurance partners with America's largest recreational vehicle club, as well as many unions, associations and social organizations to customize their policies and better serve their membership.
• RV Insurance – In perhaps the ultimate expression of handling special needs for groups, GMAC Insurance is America’s #1 RV insurance specialist¹.  While most insurance companies treat RVs as a big car, GMAC Insurance’s RV policies are specific to these unique vehicles, offering many of the industry’s best coverage and protection plans.
• Specialty/Modified Vehicles – GMAC Insurance offers products to complicated, hard-to-peg areas of the market that are simply deemed too difficult for other insurance companies to underwrite.  One example of this is specialty-modified vehicles.  GMAC Insurance remains one of only a handful of companies willing to underwrite rural US postal delivery vehicles, which are often modified trucks or cars used by people serving as contract letter carriers in remote areas.
• Homeowners Insurance – Through our partner, GMAC Insurance offers one of the most comprehensive homeowner insurance coverage plans, including medical payments coverage of up to $1000 for anyone injured on a customer’s property, personal liability protection up to $100,000 per accident, and temporary living assistance when the home is declared uninhabitable.  In addition, these limits may be increased to $5,000 or $500,000.  Also, as part of its homeowners policy, GMAC Insurance also offers personal umbrella coverage.

Key Numbers

GMAC Insurance 2008 Total Revenue – $4.7 billion

Major Corporate Locations

St. Louis
Winston-Salem, N.C.