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USAA cuts auto insurance premiums

August 5, 2009 12:00:00 AM PDT
California Insurance Commissioner Steve Poizner has approved a reduction for USAA insurance, the state's 10th biggest auto insurance company.The company says its premiums will drop by about 7 percent statewide, 15 percent in Los Angeles County, saving drivers an average of $262 each year.

The reduction involves nearly a million vehicles and will save owners about $48 million.

USAA specializes in providing insurance for active-duty, retired and former members of the armed forces.

The rate cut by USAA is the latest by major auto insurers, including the Automobile Clubs in Northern and Southern California, 21st Century, State Farm, Mercury and GEICO.

Industry officials say there's been a drop in claims linked to people driving less and riding in safer cars.

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