Re: California could see car insurance rates soar by more than 50% this year: THANKS DEMOCRATS!

On 2024-08-21, Hold Blacks Accountable <[email protected]> wrote:
> OAKLAND, Calif. - A new report identified California among the three states that could see auto insurance rates spike by more than 50% by year’s end. 
>
> Insurance marketplace website Insurify said the Golden State had some of the fastest-rising auto insurance rates in the country, with a year-over-year increase of 45% as of June.
>
> In June 2023, the average annual cost for full coverage was $1,666. A year later, the average spiked to $2,417, according to Insurify.  
>
> The report predicted the total increase in 2024 to be 54%, projected to soar to an average of $2,681.
>
> Researchers said that among the factors that can drive up premiums were auto thefts. 
>
> The National Insurance Crime Bureau said nationwide, California accounted for the highest number of vehicle thefts last year.
>
> Insurify also noted that insurance regulations in California, designed to protect consumers, have been a double-edged sword.
>
> "During COVID-19 shutdowns, states like California put a freeze on rate increases. That’s why so many people saw drastic rate hikes in 2023 after those restrictions were lifted," said Mallory Mooney, Insurify’s director of sales and service.
>
> Mooney said that some insurance companies were still playing catch up in California while others have pulled out of some markets entirely, so the industry continued to make adjustments. 
>
> SEE ALSO: State Farm requests home insurance rate increase in California
>
> The report also said that premiums were being affected by Senate Bill 1107, which will increase minimum auto coverage requirements in the state. 
>
> Insurify said the legislation will double, and, in some cases, triple the liability limits on policies.
>
> For bodily injury or death of one person in any accident, the coverage will go up from $15,000 to $30,000. 
>
> For property damage per accident, it would go up from $5,000 to $15,000.
>
> Signed into law by Governor Gavin Newsom in 2022, SB 1107 will go into effect on Jan. 1. 
>
> https://www.foxla.com/news/california-could-see-car-insurance-rates-soar-more-than-50-year-heres-why

If Kamala/Harris win the election this is what will happen to the rest of the country as they drive 
the economy into the ground with over regulation.
NYC is having similar woes as the illegal migrants are costing them billions.

-- 
pothead
Tommy Chong For President 2024
Lifetime Member of "The Prescott Parasite Eradication Team"
Ask snit how he pissed on his cat. 
All about snit read below. Links courtesy of Ron:
https://web.archive.org/web/20181028000459/http://www.cosmicpenguin.com/snit.html
https://web.archive.org/web/20190529043314/http://cosmicpenguin.com/snitlist.html
https://web.archive.org/web/20190529062255/http://cosmicpenguin.com/snitLieMethods.html