Insurance in California

3. Discounts careful drivers are 

Neat drivers Ts 103 recognizes those
Anyone who has a valid passport not less than three years, for these three years, is not more than,
More than one penalty box score on their license, and not was the main culprit behind an accident,
The result was the death of a human being,
Total loss vehicle or property damage greater than $500.
Such drivers are insurance companies are required to provide no less than,
More than 20% discount compared with the same fare for the "conventional" driver. 

Insurance in California

2. Three factors

 

On the calculation of the cost of insurance should affect three critical factors:
- Driving history a particular driver (driving safety record); - the number of miles,
School attendance by an insurer for driving; a valid passport. In addition,
Commissioner may add a few other factors,
Which, in a particular case could affect the probability of occurrence of the insured event-by-case basis.

Insurance in California

1. Lower Rates

 All insurance companies have been obliged to reduce their tariffs on 20 per cent compared with the existing in the 
Which such a reduction would have led to bankruptcy. Subsequently, however, this item
The provisions of 103 has been changed the Supreme Court California to allow insurance companies
To obtain a fair profit ,
That is, in each case, there was reduction in an individual.

Insurance in California

California this is: is the most populous state in the US (about 37 million.
People according to the 2009 year); - 13% of the GDP of the entire GDP of the United States (as of the 2006 year,
Only 8 countries in the world have more GDP,
More than one California); - the largest (from all fifty states) the number of people,
With driver's license - 23,697,667 according to the year 2008,
That is every two of the three residents state,
including the elderly and infants; - 168,076 kilometers public roads.
The most powerful state joy peace economy, heavily urbanized,
covered by dense by a network of roads, which moves the number of vehicles,
Comparable to rectify this situation, no doubt,
Interest in and to the point of view of its insurance product.

Insurance in California

The key point in the recent history of insurance in the state of the adoption in 1988, the provisions of
No. 103 ( Prоpоsitiоn 103 ), which radically changed the role CDI and established the rules of the game.
Prior to the adoption of the provisions of 103 Commissioner - chapter CDI - was appointed by the Governor,
Now, he was selected by state residents.
Prior to the adoption of the provisions of 103 CDI has carried out its functions in accordance with insurance act of IAC. mcbridedirector- Grunsky insurance regulatory act,
On which insurance companies are not required to justify the rates of insurance tariffs,
Except for life insurance and health care.
At the time California was considered less "open competition"
Where only market-based mechanisms.
The Division consumer services (Consumer Services Division) was obliged to follow (and only!
For the order, such as insurance companies formed their fares.
16 December 1988, under the division of tariff control unit has been established,
Responsible for the implementation of the following items of 103: 

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