It also wants all states to require that driving record be the most important factor in setting rates for drivers, followed by miles driven and years of experience—not credit scores, occupation, education or prior purchase of insurance, which penalize low-income drivers.
“If every state in the nation were to implement and enforce a regulatory and pro-competitive agenda as demonstrably pro-consumer as that in California, our research indicates that Americans could save over $350 billion over the next decade, or $3,361 per household, even as insurance companies realize reasonable profitability and competition remains robust,” says Hunter.