About 1 million customers of the Automobile Club of Southern California will get an average $65 reduction in their annual car insurance premiums, the company and the state insurance department announced Wednesday.
The total rate cut came to $70 million, or 4.1%, for policies that start or renew after July 1.
It was the fourth such reduction in the last nine years, which will have saved policyholders more than $380 million, Auto Club President Robert T. Bouttier said Wednesday.
The latest rate cuts, which were approved by California Insurance Commissioner Dave Jones, include a number of new discounts for homeowners, college alumni group members, medical professionals and some students, Bouttier said.
The auto club is the fourth-largest auto insurer and the sixth-largest hom insurer in California, according to A.M. Best, which provides statistics and analysis to the industry.