Prop 33 Funding
Total Contributions, by Donor
Last Updated Nov. 2, 2012

Who's Funding Prop 33, the Auto Insurance Pricing Initiative?

Proposition 33 would let insurance companies base prices on a driver's history of coverage. Have you kept up with insurance coverage and not let it lapse? You might get a discount. Have you had some insurance coverage, but not the whole time? You might get a "proportional" discount. Have you been without insurance? Your rate might increase.

But don't worry if you had a lapse due to military service, loss of employment, or didn't have coverage for less than 90 days -- you'll be treated like you had insurance the whole time.

For all the details, read our Prop 33 Cheat Sheet here.

SUPPORTERS

OPPONENTS
Credit: Database developed by Brian Frank. Additional reporting by Daniel Medina.

Top Photo: darkmatter/Flickr/Creative Commons License

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LEAVE A COMMENT Leave Comment  

The argument is that insurance is a zero sum game.  Insurance companies are currently only allowed to give continuous coverage discounts to their existing customers, like a loyalty discount.  However, this proposition would allow companies to give you a continuous coverage discount for your prior coverage with another company.  So under this proposition, you have more of an incentive to switch companies.  (You won't lose your continuous coverage discount) 
Because insurance is a zero sum game, the argument is that your new company will raise rates on new customers without continuous coverage to pay for your continuous coverage discount.  Because you are paying less, someone else must pay more.  The someone else is someone that had a lapse in coverage.  Those who have lots of money and can always afford insurance coverage benefit at the expense of those who are financially struggling.  The rich get richer and the poor get poorer.

James from http://www.4autoinsurancequote.com

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James, the law requires that CA drivers carry insurance coverage in order to operate a vehicle in this state. How do people that obey the law "get richer"? Your supposition that people who can afford insurance coverage have lots of money is a complete fallacy, as I can attest. It's about being responsible. May I remind you that the insurance requirement was passed under Willie Brown's regime.