California’s insurance commissioner today announced that a rate reduction of 10.7 percent has been approved for GEICO’s California auto insurance policyholders.
The GEICO rate decrease will come into effect on Aug. 15, according to a press release from Commissioner Dave Jones’ office.
The release said GEICO policyholders in the Los Angeles area will save an average $238 on their premiums a year. Policyholders in San Diego will save $163 a year on average. Statewide, the average savings for policyholders will be $127.
The premium reduction will save GEICO customers $91 million overall.
GEICO is the seventh largest auto insurer in California.
Topics California Auto
Was this article valuable?
Here are more articles you may enjoy.
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI 
Stryker Remains Offline After Cyberattack Linked to Iran Group 
US Offers $20 Billion Reinsurance Plan to Spur Gulf Oil Flow 
Georgia Appeals Court Reverses $345M Judgment Against Insurers in School Sex Abuse 
