AAA Shifts Auto Insurance Rates in Reverse
1 February 1999
AAA Shifts Auto Insurance Rates in Reverse; $53 Million Savings on the Horizon for Auto Club Insureds in Northern California
SAN FRANCISCO--Feb. 1, 1999--AAA of Northern California announced plans to reduce auto insurance rates by almost 4 percent for policies renewing on or after Feb. 1.
The new rate reduction will result in a $53 million savings for AAA insureds, and follows a $62.9 million premium reduction in 1997.
In addition to the four auto policy discounts currently available to qualified policyholders, AAA will introduce two new discounts. The student discount will reduce auto premiums for eligible students with a grade average of "C" or better. The multi-policy discount will lower auto insurance premiums for policyholders who also have a homeowners policy with AAA. Current discounts include the good driver discount, the collision-avoidance brake light discount, the new driver discount and the mature driver discount.
"AAA is offering these additional rate reductions and discounts to reward our current insureds for their loyalty, while working to attract new members to our company," explained Marjorie Berte, vice president of underwriting and policyholder services.
As a not-for-profit insurer, AAA returns insurance savings to policyholders. AAA will continue to offer a 15 to 20 percent savings dividend to all auto insurance policyholders.
Insureds will be informed of these changes prior to the renewal date of their auto policy.
Established more than 90 years ago, the AAA of Northern California, Nevada and Utah offers a wide variety of automotive, insurance, travel and financial services. It is the second largest regional affiliate of the national AAA organization.
