DENVER, Jan. 3 /PRNewswire/ -- GEICO announced today that it has reduced
auto insurance rates for its policyholders in Colorado. The statewide average
rate decrease is 7.1 percent for GEICO and GEICO General policyholders. With
this latest premium reduction, GEICO and GEICO General's average rates are now
down by a total of 25.7 percent since the state's auto insurance reforms took
effect. There are also rate decreases for GEICO Indemnity policyholders, -7.5
percent, and GEICO Casualty policyholders, -4.8 percent, bringing the total
decreases to 31.3 percent and 29.2 percent, respectively since the change to a
tort system. The changes will go into effect on Jan. 5 for new policyholders
and on Feb. 20 for renewal policies.
"Improved driver experience, which has resulted in a decrease in accidents
and fewer losses for our company, is the main reason for the rate decrease,"
said Gary Brown, GEICO's regional vice president. "We're glad we can provide
our policyholders with more savings, and we hope to attract new customers with
our lower rates."
Overall premium changes for individual motorists will vary based upon
factors such as coverages purchased, geographic area, type of vehicle, risk
characteristics, and discounts for which they qualify.
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