California IN BRIEF : SACRAMENTO : Car Insurance Plan Would Cost $300
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From Times Staff and Wire Reports
A proposed low-cost auto insurance policy for individuals earning less than $20,000 a year or families of four less than $25,000, would cost policyholders $300 annually, an actuary for Insurance Commissioner John Garamendi has estimated. Such a policy would require a $40 subsidy from each higher-income driver in the state, according to actuary Don Bashline’s estimate. A bill to create such a policy, sponsored by state Sen. Art Torres (D-Los Angeles), is scheduled for its first legislative committee hearing today.
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