California auto insurance buyers are paying less for coverage than they were two decades ago while rates rose substantially for the rest of the country, says the Consumer Federation of America.
The consumer group attributes the decrease to the state's regulatory reform under Proposition 103, which mandates prior approval for rate increases.
"No other state has put in place the kind of strong oversight that California voters created in 1988, and no other state has seen auto insurance prices decline," says CFA Insurance Director J. Robert Hunter.
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