| Automobile Assocation lowers homeowners' insurance rates
California State Automobile Association will reduce its homeowners' insurance rates by an average of 10.6 percent starting Aug. 1, marking the motor club's first overall home insurance rate decrease in more than 20 years. California insurance regulators approved the rate decrease Friday. About 500,000 California policyholders -- most of them are in Northern California -- will save an average of $100 per home policy, AAA spokeswoman Jenny Mack said. The insurer is lowering homeowners' rates because its loss experience has changed and it needs to have competitive rates, she said. .
Automobile Association lowers homeowners' insurance rates
The California State Automobile Association will reduce its homeowners' insurance rates by an average of 10.6 percent starting Aug. 1, marking the motor club's first overall home insurance rate decrease in more than 20 years. California insurance regulators approved the rate decrease Friday. About 500,000 California policyholders -- most of them are in Northern California -- will save an average of $100 per home policy, AAA spokeswoman Jenny Mack said. The insurer is lowering homeowners' rates because its loss experience has changed and it needs to have competitive rates, she said. Sacramento Business Journal .
Higher insurance costs forecast
All around Australia people have spent the summer taking cover from hailstorms, rain and floods. Now they must brace themselves for another storm. The cost of home and contents and car insurance premiums are going up as insurers try to recoup the high cost of claims for storm damage. General insurers have faced some big claims for storm and flood damage. In the six months to December, storms on New Zealand's North Island led to $54 million worth of claims, storms around Lismore in northern NSW in October cost $130 million in claims, the Gisborne earthquake in New Zealand in December cost $31 million and the western Sydney hailstorm in December cost $400 million. Insurers have issued statements during the past couple of months saying they will review premium pricing for home and motor policies.
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