This news comes on the back of Garamendi’s fight with the insurance industry to lower rates and change the way they charge for auto insurance. Auto insurance rates in California can no longer be based on your zip code but instead on driving safety, miles driven, and driving experience.
21st Century is the fifth largest auto insurer in California with over 740,000 policyholders of which drivers in Los Angeles County will see a 12 percent reduction in premium. That reduction amounts to a $219 savings per driver per year. Safeco is the eighth largest homeowners insurer in the state and is seeking an average reduction of 20 percent of its homeowners’ policies statewide. Safeco policyholders will be saving on average $190 per year.
I for one hope the next Insurance Commissioner of California is as diligent and hardworking as Garamendi has been.
I was skeptical about the low rates quoted by 21st Century, but finally conceded and obtained coverage on my vehicle through 21st Century in November 2006 at a substantial savings over what my old carrier charged. Now after only the first 6 months, 21st is raising my rates higher than my older carrier charged. Their explanation is "all of the claims filed in Florida" my home state. I'm returning to my old carrier of 10 years. They at least didn't bait and switch.
Posted by: Anonymous | June 4, 2007 11:59 AM | Permalink to Comment