About GMAC Insurance
GMAC Insurance began in Detroit in 1939 as Motors Insurance Corp. (MIC). It was formed to provide coverage for physical damage to cars sold by GM dealers and financed by General Motors Acceptance Corp.
GMAC Insurance is the only auto insurance company to have started in the car-sales business.
Originally, General Motors dealers were the only agents. They sold auto insurance on new and used cars to be able to deliver them and earn a commission. Accidents were reported through the dealers and its field adjusters handled all claims. The adjusters had the responsibility and the authority to handle every situation in the territories to which they were assigned.
MIC was the first insurance company to offer comprehensive insurance coverage on a mass basis.
At one time, most dealers insured their inventory with MIC.
Because it handled accident claims, MIC was able to provide feedback to GM on product performance in a collision. A number of product changes/improvements that GM made to its cars were a result of these reports.
Today, GMAC Insurance is one of the largest insurers in the U.S. It is owned by American Capital Acquisition Corporation and is headquartered in Winston-Salem, N.C.
GMAC Insurance has a network of more than 10,000 independent agents and brokers. It operates in 47 states and the District of Columbia.
In addition to automobile insurance, GMAC offers insurance for motorcycles, collector and classic cars and insurance for those who are planning to drive in Mexico.
In addition to discounts for having a safe driving history and anti-theft devices on vehicles, GMAC Insurance offers discounts for owning a GM car or having a GMAC mortgage. You can get a GM loyalty discount if all the vehicles on your policy are manufactured by GM. GMAC also offers discounts to active OnStar subscribers and those who drive less than 15,000 miles a year.