The Automobile Club of Southern California’s affiliated insurance company announced it is reducing auto insurance rates by an average 7 percent starting Dec. 1 for new and renewing policyholders. The company also is implementing new Department of Insurance regulations that require insurers to place more importance on a person’s driving safety record, miles driven and driving experience than any other rating factors.
The company predicts the rate reduction, approved by California’s commissioner in September, will save nearly 1 million policyholders a total of $133 million, or an average of $134 per policy. The rate reduction was due to a reduction in the number of bodily injury, property damage and collision claims, the company indicated.
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