In brief: The 2012 Automobile Insurance Discount Act has received ratification to appear on the ballot by California's Secretary of State.
The full story
The initiative, sponsored by the American Agents Alliance, an association of brokers to find competitive prices for consumers, met the requirements to have random certification of signatures and has been ratified to appear on California's ballot in November.
The goal of the act is to get every California driver insured at a competitive price, though opponents say the bill will do little, if anything, to change rates.
The initiative's largest change is to the way that insurance maintenance discounts are held. Currently, they are controlled by the insurance companies, who give discounts to the insured based on how long they've been with the insurance company rather than how long they've had coverage by any insurer. The AIDA changes that so that the discount is given to all who've had insurance for more than a specified time, regardless of carrier.
Summing up
Somewhat controversial, it's likely that the initiative will be popular amongst voters in November.
Photo credits: Stock
