Friday, April 19, 2013

We saved Washington consumers $5.6 million in auto insurance premiums last year

Little-known fact: When many types of insurers want to change their premium prices, they must file the new rates with us. Our actuaries and analysts go over the numbers, and -- where justifiable -- we hold those increases down.

Through this process, we've saved Washington state consumers nearly $11 million over the past three years. Here's the annual difference between requested rates and approved rates during that time:
  • 2010: $2,655,927
  • 2011: $2,714,917
  • 2012: $5,603,182