Low-cost auto insurance program grows in February
Motorists with a good driving record may be eligible.Many Americans look to their auto insurance premiums as an outlet for cost-cutting.
A California program aimed at helping such consumers has experienced significant growth in the past year, according to an announcement by Insurance Commissioner Steve Poizner. The California Low Cost Auto Insurance Program was launched in 2007 as a way for motorists with financial need to meet their insurance costs.
The program received 788 applications in February 2010, the highest of any month in the past three years. It also experienced a 30 percent year-to-date increase, according to the announcement. Applicants to the program must be at least 19 years old and have a good driving record for the past three years, including no more than one at-fault property-damage-only accident or one point for a moving violation.
"During one of the toughest economic times California has been through, I am encouraged to see that drivers are taking advantage of this program that can save them money and keep them from breaking the law," Poizner said.
Another way for drivers to reduce their auto insurance premiums is to raise their deductibles. This increases the size of out-of-pocket costs a consumer will cover before their insurance kicks in.
Posted: March 15, 2010
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