California Car Insurance Rates Among Slowest To Increase
Added: (Tue Sep 10 2013)
Pressbox (Press Release) - San Diego, California — The cost of living in California is one of the highest in the country, especially given housing and fuel prices. Many Californians complain about the high prices of almost everything, especially near large urban areas. However, there is one area in which Californians have benefited greatly in terms of relative cost, and that is in the area of auto insurance. EIS Insurance is able to offer the best prices on auto insurance in California due to the fact that the company’s independent agents are able to choose among many different companies to find the best rates.
While prices may still be relatively high for worker’s compensation insurance in San Diego or
business insurance in San Francisco, the cost of car insurance has remained steady for many years. Some experts believe this is in large part due to a law passed by voters in 1988 and known as Proposition 103. While Proposition 103 had little effect on homeowners insurance in San Diego , business insurance in San Jose or worker’s compensation insurance in Los Angeles, the law had a tremendous impact on car insurance rates throughout the state. Other experts believe better safety measures are responsible for the steady rates.
Between 1989 and 1998, car insurance rates in California declined four percent while hiking on average nearly 40 percent across the nation, according to a survey by the Consumer Federation of America. States such as West Virginia and South Dakota have seen incredible auto insurance rate increases, but despite much more congested traffic and a much higher number of claims, Californians continue to enjoy lower rates. Even the relative cost of business insurance in San Diego through EIS Insurance has remained low relative to costs in other states.
Many experts believe that what makes California different is the fact that the state demands transparency for insurance companies who wish to sell auto insurance in Carmel or commercial insurance in San Diego. Any insurance company that does business in the state must follow the rules of Proposition 103 which include justification for rate increases, a 20 percent discount for drivers with clean records and clear rate schedules.
Other experts in the insurance industry credit the decline in insurance rates to more seat belt and air bag use as well as other new safety features. No matter what the reason, customers of EIS Insurance benefit from their ability to sample rates from many companies. EIS Insurance can help customers find affordable policies when companies compete for insurance business.
Source: ABC News, “California Auto Insurance Rates Defy Upward Trend,” June 7, 2013.
About EIS Insurance:
EIS Insurance offers renters insurance in San Diego as well as other specialty policies. Customers searching for home insurance in San Diego will find the most flexible coverage and the best rates with EIS, an independent insurance company located in San Diego. The professionals at EIS are ready to work with clients to provide business insurance in Los Angeles, worker’s compensation insurance in San Francisco or San Diego condo insurance. EIS agents are able to find the best rates and coverage options for every individual need.
For More Information: http://www.eisinsurance.com