First assurance to the reduction of tax rates auto
First Insurance Co. of Hawaii said it plans to reduce premiums averaged $ 100 per car, participation in a growing list of vehicles moving to cut some of the highest in the nation.
First insurance yesterday a request for Insurance Division of the State to reduce the price by an average of 9 per cent to 11 per cent from 1 January
The company has 12300 policyholders in Hawaii and is thus 11 Automobile insurance biggest operator in the State.
First Insurance said the average insurance pay about $ 960 per year to cover a single car, would be approximately $ 90 to $ 100 in the plan.
For customers with a minimum coverage, the savings are about $ 150 per car or an average reduction of 22 percent to 27 percent, said Mark Smith, First Assistant Vice President Insurance.
The state must approve the plan.
The company is a filing date has been partly in response to the reform measures by the legislature in the year. Among other things, the new law reduces the minimum amount of driver must be the date of purchase.
Combined with a decrease occurred last year, the company prices have dropped, 17 per cent to 21 per cent since July 1996, the first insurance said.
This step is automatic after several local carriers have announced reductions Premium during recent weeks.
In September, State Farm Insurance Co., Hawaii’s largest auto insurer, announced it was reducing their rates of 15.2 percent for its policyholders 119000 and premises would return $ 11.6 million in the form of dividends their customers.
He came to Allstate Insurance Co., Hawaii’s Car Carrier third with 62290 vehicles in the country, said it cut premiums by 5.4 percent. In August, Tokyo Dai-Royal Insurance Co. said it was the reduction of 13 per cent.
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