A consumer advocacy group is helping to save policyholders millions of dollars on year-end insurance rate increases. Pamela Pressley, Senior Staff Attorney with Consumer Watchdog, says significant cuts were made to auto and homeowners insurance rate hikes requested by State Farm, Allstate, Pacific Specialty and GEICO. Their number crunching found the insurance companies overstated projected losses and inflation trends. Under Proposition 103, consumers and advocates have the right to challenge rate hike requests made with the Department of Insurance if they believe they are unjustified. The newly approved rates will take effect between February and April, impacting over nine-million policyholders.
Consumer Advocates Help Insurance Policyholders Save Millions on Rate Increases
