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.
AI for the Defense: Should Insurers or Law Firms Pay? 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home 
Study Finds ‘Alarming’ High Flood Risk for 17M Americans on Atlantic, Gulf Coasts 
