California Insurance Commissioner Steve Poizner announced a 15 percent rate cut for Explorer Insurance Co.’s auto insurance policyholders, saving them approximately $3.4 million.
Explorer Insurance initially filed for a 17.6 percent increase in its auto insurance rates, the Department of Insurance indicated. After reviewing the rate filing application, Commissioner Poizner approved a 15 percent decrease in rates. As a result of this reduction, Explorer Insurance Company customers will save an average of about $100 per car annually, the DOI indicated. The savings are expected to go into effect in December, and will apply to renewing policyholders and new customers.
Source: DOI
Topics California Auto
Was this article valuable?
Here are more articles you may enjoy.
Berkshire Hathaway to Invest $1.8 Billion in Tokio Marine 
Orlando Apartment Complex Evacuated After Cracks Found on All Five Floors 
AccuWeather Atlantic Hurricane Season Forecast: 11-16 Named Storms 
After 62 Years, Florida Appeals Court Drops the Expert Witness Rule on Attorney Fees 
