California insurer announces rate reduction

In a time when most insurance companies are raising rates on their property coverage, USAA is lowering theirs. Policyholders in California will see their rates drop an average of 15%. The rate change has been approved by the California Department of Insurance and is being lauded as a move to ease the financial burden of individuals and families struggling with a troublesome economy. Insurance Commissioner Dave Jones was particularly elated at the news as he has spent the better part of this year battling the state’s insurers regarding proposed rate…

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