USAA Auto Group announced it is reducing rates an average of 7 percent for auto policyholders in California.
The 10th largest auto insurer in the state, USAA insures nearly 1 million vehicles in California, covering approximately 3.5 percent of the auto insurance market, according to the California Department of Insurance. Under the newly approved rates, USAA’s California policyholders will save an average of about 7 percent, or about $104 per policy per year — a total of $47.6 million. New rates apply to policies written or renewed after August 5, 2009.
Under the newly approved rate cut, USAA customers in Los Angeles County will save an average of 15 percent, or $262 per year, per policy, the DOI said. USAA customers in San Francisco will save an average of $157 per year, and San Diego policyholders will save an average of $104 each year.
Sources: DOI, USAA