| 1. Auto Insurance Coverage Reviews: |
| A. Liability Coverage |
| B. Uninsured and underinsured Motorist Coverages |
| C. Medical coverage |
| D. Auto Collision coverage |
| E. Comprehensive Coverage |
| F. Miscellaneous coverages |
| 2. Valuable Resources |
| A. Rate Comparisons |
| B. Complaint Ratio List |
| C. The State Guarantee Fund |
| D. When and How to File a Complaint |
| 3. Selecting an insurance company |
| A. Company Reputation |
| B. Price, Service and Size |
| C. 12 Questions to Ask |
| D. Selecting an Agent |
| E. Independent Agents Vs. Captive Agents |
| F. How to Resolve a Problem |
| G. What Can an Insurance Company Find out About You? |
| 4. Claim process |
| - Settling a Bodily Injury Liability Claim |
| Discounts Available from Most Auto Insurance Companies |
| The Savings Calculator |
AAA Insurance |
Auto Club's Insurance Affiliate Files for 5 Percent Auto Rate Reduction
LOS ANGELES--March 22, 2004--
The Interinsurance Exchange of the Auto Club filed today with the state Department of Insurance for an overall 5 percent reduction in its California auto insurance rates. The rate reduction should save Auto Club policyholders an average of $80 per policy. The filing is based on a reduction in the number of bodily injury, property damage and collision claims.
"Our claims costs have been going down, and when we save money, we want to make sure that our policyholders get the benefit of those savings," said Thomas V. McKernan, president & CEO. "That's why we have asked the Department of Insurance to allow us to reduce our rates."
The amount of the adjustment to individual policies will vary, depending upon the type of coverage, applicable discounts and type of car. About 90 percent of policyholders will see a rate reduction. Pending approval from the Department of Insurance, this rate change would become effective on August 1, 2004.
Since 1993, the Auto Club's affiliated insurance company reduced rates by over 19 percent. Following approval of this latest request, rates will have declined during the past eleven years by nearly 24 percent on average.
This rate reduction is on top of the annual premium savings dividend the Exchange has returned to its policyholders each year since 1990. In 2003, policyholders received a premium savings dividend that averaged 9.5 percent, or approximately $152 per policy.
"In addition to reduced claims costs, we've continued to work hard at reducing operating costs and improving efficiency," McKernan added. For the second consecutive year, the Exchange was ranked second in the nation in 2003 for overall customer satisfaction by a leading consumer satisfaction study.
Also, the 2003 Ward's 50 Benchmark Group selected the Exchange as a top industry performer for the tenth year in a row. The Benchmark Group recognizes insurance companies that have excelled at balancing safety, consistency and performance over a five-year period and benchmarks their performance against the industry as a whole.
The Automobile Club of Southern California, the largest affiliate of the AAA, has been serving members since 1900. Today, the Auto Club's members benefit by roadside assistance, insurance products and services, travel agency, financial products, automotive pricing, buying and financing programs, automotive testing and analysis, trip planning services, highway and transportation safety programs.
| Auto Insurance |
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