The rating plan with reduced rates is already in effect

U.S. based Government Employees Insurance has announced a new auto insurance rate plan for drivers in Georgia, U.S. The rating plan with reduced rates is already in effect for new policies and will be effective February 8, 2009 for renewal policies.

According to Government Employees Insurance (GEICO), the new low rates are expected to increase its policyholder growth in Georgia. The rate decreases are possible due to a combination of factors that include rate changes by coverage, implementation of additional discounts and the hard work of GEICO’s 4,079 associates in the company’s Macon office.

Overall premium changes for individual motorists will vary based upon factors such as coverage purchased, geographic area, type of vehicle, risk characteristics, and discounts for which they qualify.

Dina Pon, assistant vice president with underwriting responsibilities for GEICO’s southeast operations, said: On average, current GEICO policyholders will receive a 2.3% decrease for the same. The changes for new business customers will make GEICO’s auto policy rates in Georgia even more competitive for consumers. This is especially true because some other companies are raising their auto insurance rates in Georgia at the same time we are lowering ours.