Some Florida drivers could see their premiums reduced after one automobile insurer announced it would cut rates by an average of 10 percent.
Mercury Insurance Co. officials said the new rates would take effect immediately on all new policies and on March 18 for policyholder renewals.
The new rates apply to all private passenger automobile liability, comprehensive and/or collision coverage.
The Los Angeles, California-based Mercury estimates individual policyholders could save up to $200 per year, for a total statewide savings of $7.2 million.
Mercury issues policies through a network of 1,200 independent agents and at its website.
Was this article valuable?
Here are more articles you may enjoy.
Judge Throws Out Bulk of Economic Claims Over Baltimore Bridge Tragedy 
Federal Judge Cautions State Farm Against Gambling With Courts 
Aon Acquires USI Insurance From KKR in $17 Billion Deal Targeting Middle Market 
FBI Investigating Possible Exposure of Millions of American IDs 
