The fourth largest auto insurer in California said it plans to reduce rates as much as 7 percent, becoming the first carrier to implement new regulations that reduce a driver's location as a rating factor.
The Automobile Club of Southern California said its insurance affiliate's rate reduction would save nearly one million policyholders a total of $133 million, or an average of $134 per policy.
It said the insurer was able to reduce rates through a reduction in the number of bodily injury, property damage and collision claims.
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