Shannon Kelly, 21st Century senior vice president, West region, has announced a $34 million rate reduction for 21st Century Auto Insurance Co. policyholders in California. This represents an average decrease of 3.4 percent.
As the seventh largest auto insurer in the state, 21st Century insures more than 1 million vehicles in California, covering approximately five percent of the auto insurance market, the Department of Insurance noted. Under the newly approved reduced rates, California policyholders will save an average of about 3.4 percent, or about $50 per policy per year – a total of $34 million. New rates apply to policies written or renewed after June 21, 2009.
Under the newly approved rate cut, 21st Century customers in Los Angeles County will save an average of 4.9 percent, or $80 per year, per policy. 21st Century customers in San Francisco will save an average of $58 per year, and Sacramento policyholders will save an average of $62 each year.
Source: CDI
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