?

PRESS RELEASE

FIFE SYMINGTON
Governor

JOHN KING
Director

ARIZONA DEPARTMENT OF INSURANCE

2910 North 44th Street, Suite 210, Phoenix, Arizona 85018-7256 · (602) 912-8456 · FAX: (602) 912-8452



Contact: Greg Harris 96-8

Executive Assistant Director


FOR IMMEDIATE RELEASE


December 2, 1996

ARIZONA DEPARTMENT OF INSURANCE PUBLISHES LATEST COMPARISON OF AUTOMOBILE INSURANCE PREMIUMS

The Arizona Director of Insurance, John King, announced today the availability of the Department's Fall "Automobile Premium Comparison Survey."

"The Department publishes the Comparison twice each year to encourage insurance consumers to compare insurers' prices when purchasing insurance, King said. However, he added a cautionary note, that "although price is always a consideration, consumers should also consider an insurer's claims handling and policyholder service, the insurer's overall reputation and the type of insurance contract and coverage available."

Sixty-eight insurers, writing approximately 90% of the personal automobile insurance written in Arizona, provided the quotations contained in the 53 page booklet. Phoenix, Scottsdale, Mesa, Glendale, Tucson, Casa Grande, Flagstaff, Nogales, Safford, and Yuma provide the locations for 12 different hypotheticals for drivers whose ages vary as do their driving records and vehicle use. Additionally, the booklet provides a list of insurers' telephone numbers and information describing insurance coverages.

King announced the availability of another Department publication, the "Complaint Ratio," and said "this publication is particularly useful to the purchaser of automobile insurance when reviewed with the Comparison." The Complaint Ratio compares the number of written complaints received by the Department against an insurance company to the number of policies the insurer had in force for the previous calendar year.

The Comparison, the Complaint Ratio, and "The Most Frequently Asked Questions" (Automobile) are also available at http://www.state.az.us/id on the World Wide Web.

King stated "Arizona has a non-cancellation law limiting the reasons an insurer may cancel a personal automobile insurance policy after it has been in effect for more than 60 days. Some of the reasons include failure to pay premium and having been convicted for driving under the influence of alcohol or drugs. However, insurers may cancel a policy for any reason during the first 60 days the policy has been in effect. Consumers who change insurance companies should be especially careful to avoid citations or accidents during this initial sixty-day period."

Those wishing to receive the Automobile Premium Comparison Survey and the latest available Complaint Ratio may obtain copies by writing to the CONSUMER SERVICES DIVISION, Arizona Department of Insurance, Suite 210, 2910 North 44th Street, Phoenix, Arizona 85018, or by calling the Consumer Services Division in Phoenix at 602/912-8444 or in Tucson at 520/628-6370.

-30-