15 Percent Rate Reductions For Explorer Auto Insurance Policyholders |
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Sacramento, CA – Insurance Commissioner Steve Poizner today announced a 15
percent rate cut for
Explorer Insurance Company’s auto insurance policyholders, saving them
approximately $3.4 million.
“With a terrible economy and unemployment on the rise, Californians are
struggling to make ends meet,” said Commissioner Poizner. “I am pleased to
announce this significant rate cut today, which will save consumers and
businesses millions of dollars.”
 Explorer Insurance Company initially filed for a 17.6 percent increase in their
auto insurance rates. After reviewing their rate filing application,
Commissioner Poizner approved a 15 percent decrease in rates. As a result of
this reduction, customers buying
California auto insurance will save an average of
about $100 per car annually. These savings are expected to go into effect in
December, and will apply to renewing policyholders and new customers.
Since elected, Commissioner Poizner has approved $1.8 billion in rate reductions
for California drivers and homeowners. Recent rate cuts include:
$255 million rate reduction for Allstate homeowners insurance policyholders
$50 million rate reduction for AAA of Northern California homeowners insurance
policyholders
$30 million rate reduction for Fireman’s Fund homeowners insurance policyholders
$61 million rate reduction for Mercury auto, renters and homeowners insurance
policyholders
$250 million rate reduction for Allstate auto insurance policyholders
$100 million rate reduction for AAA of Northern California auto customers
$65.8 million rate reduction for GEICO customers
In April, Commissioner Poizner issued new regulations to clarify and streamline
the prior approval rate system, making the rate filing process more efficient,
accurate and transparent. The Commissioner’s regulations also help to speed the
approval of rate reductions so consumers can see savings sooner.
Get a quote by entering your zip code below or learn more about
Explorer insurance company by visiting their website.
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