Printer Friendly

CITIZENS INSURANCE DECREASING RATES FOR MANY AUTO CUSTOMERS

 HOWELL, Mich., Dec. 18 /PRNewswire/ -- Despite assessment increases announced by the Michigan Catastrophic Claims Association (MCCA), one of the major writers of automobile insurance in the state will provide an overall rate decrease for most of its policyholders.
 Citizens Insurance Company of America has issued new rates for components of its private passenger automobile coverage. Effective Jan. 2, 1993, base rates will decrease 5 percent, on average, depending on rating territories and policy coverages.
 Citizens' average rate for collision coverage will drop 14 percent and its average rate for comprehensive coverage will go down 5 percent from current policies. The decreases offset the increases in coverages mandated under Michigan's no-fault law. They also offset the MCCA assessment increase imposed on all auto insurers to help pay for auto accident claims in excess of $250,000. All Citizens customers will pay an additional $8 per vehicle for the MCCA assessment.
 Even with the MCCA and other coverage increases, customers with full automobile coverage will get an average rate reduction of 2.3 percent.
 Citizens' auto insurance reductions will not apply to all areas in the state, which is divided into rating territories on the basis of risk and claims experience. Some small areas of Washtenaw and Monroe counties will receive a rate increase, due to adverse claims experience. Local independent agents for Citizens can provide information about the rate changes, as they pertain to specific communities and territories.
 Based in Howell, Citizens was founded in 1915 and pioneered automobile insurance in Michigan. Today, the company is the fourth- largest writer of automobile insurance in Michigan, with approximately 400,000 auto policies.
 Citizens is Michigan's largest writer of property and casualty insurance through independent agents, offering automobile, home, business and workers' compensation coverages. For 23 consecutive years, the insurer has been rated A+ (Superior) by the A.M. Best Company, the leading independent analyst of the insurance industry.
 -0- 12/18/92
 /CONTACT: Sheila Wright or Peter Logan of Citizens Insurance Company of America, 517-546-2160/


CO: Citizens Insurance Company of America ST: Michigan IN: INS AUT SU:

SB -- DE004 -- 8096 12/18/92 09:52 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 18, 1992
Words:354
Previous Article:CHRYSLER CORPORATION FUND GIVES $100,000 TO MAYOR YOUNG'S EMERGENCY RELIEF FUND
Next Article:FORD ANNOUNCES SERVICE ACTION
Topics:


Related Articles
PROGRESSIVE CUTS AUTO INSURANCE RATES 10 PERCENT FOR OHIO CUSTOMERS
LONG AND AUTO INSURANCE INDUSTRY SETTLE; AUTO RATES TO FALL 6 PERCENT
INSURANCE COMMISSIONER HAILS AUTO INSURANCE RATE DECREASE
Allstate Announces Auto Rate Decrease
Florida Insurance Commissioner Nelson Approves Rate Cut For Allstate Policyholders
Nationwide Insurance Lowering Auto Rates in Connecticut
Nationwide Insurance to Cut Texas Auto Rates
Colonial Insurance Lowers Tennessee Auto Rates
Nationwide Insurance Cutting Ohio Auto Rates
Nationwide Insurance Lowering Florida Auto Rates and Improving Two Discounts

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters