CDI RELEASES AUTO PREMIUM SURVEY

The California Department of Insurance (CDI) announced the latest edition of the Automobile Insurance Premium Comparison Survey on its Web site at www.insurance.ca.gov. The new survey provides a baseline of premium information as a tool consumers and policyholders can use when shopping for automobile insurance. The survey does not provide rate quotes. In accordance with California Insurance Code Section 12959, the CDI surveys licensed insurers admitted to transact insurance in California and asks them to provide premium comparisons for various lines of personal insurance. The survey is based upon several scenarios or hypothetical risks, which take into account the most common variables used to calculate automobile insurance premiums. The results of these surveys provide a premium comparison for what the consumer may be charged by an insurer in a specific scenario.