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2021-05-05 City Council Item No. 5.1 Peter Meza Presentation Regular MEETING - Additional Meeting MaterialsCalifornia Department of Insurance Peter Meza, Associate Insurance Compliance Officer April 19th, 2021 Presentation Overview •California Department of Insurance (CDI) •California Law •California’s Low Cost Auto Insurance Program (CLCA) •How to Qualify & How To Apply •How You Can Partner with CDI & CLCA •Q&A California Department of Insurance (CDI) •Largest Consumer Protection Agency in the State •Regulate all lines of insurance •Regulate Insurance Companies, Agents, & Brokers •California is the largest insurance market in the U.S. -$340 billion collected annually in premiums www.insurance.ca.gov 800-927-4357 California Department of Insurance •Insurance Questions or Problems •www.insurance.ca.gov •800-927-4357 5| Copyright © 2020 California’s Low Cost Auto Insurance | CALIFORNIA LAW CALIFORNIA LAW ALL DRIVERS MUST HAVE PROOF OF FINANCIAL RESPONSIBILITY LIABILITY INSURANCE PENALTIES OF DRIVING WITHOUT INSURANCE 6| Copyright © 2020 California’s Low Cost Auto Insurance | CLCA PROGRAM OVERVIEW CA LOW COST AUTO INSURANCE PROGRAM EST. 1999 CLCA PROVIDES AFFORDABLE, LOW COST LIABILITY INSURANCE CLCA IS A STATE PROGRAM GOAL: TO DECREASE THE NUMBER OF UNINSURED DRIVERS 7| Copyright © 2019 California’s Low Cost Auto Insurance | HOW DO YOU QUALIFY VALID CDL/AB60 VEHICLE VALUE $25,000 OR LESS MEET INCOME GUIDELINES BE AT LEAST 16 YEARS OLD *Can’t have bad driving record for past 3 years 8| Copyright © 2020 California’s Low Cost Auto Insurance | STATE -WIDE COVERAGE & RATES Base: Good Drivers with 3+ yrs 30%: Single drivers 19-24 yrs 40%: Drivers less than 3 yrs 100%: Drivers 16-18 yrs 1 person -$32,200.00 2 people -$43,550.00 3 people -$54,900.00 4 people -$66,250.00 9| Copyright © 2019 California’s Low Cost Auto Insurance | COVERAGE LIMITS A CLCA policy offers the basic minimum liability coverage you need to drive legally A basic policy under the CLCA Insurance program coverage provides: Up to $10,000 per person in case of bodily injury or death Up to $20,000 per accident in case of bodily injury or death Up to $3,000 for property damage 10| Copyright © 2019 California’s Low Cost Auto Insurance | WHAT DO YOU NEED TO APPLY? Valid Driver’s License/AB 60 Valid Registration Proof Of Income Down Payment –20% of annual premium 11| Copyright © 2019 California’s Low Cost Auto Insurance | PROOF OF INCOME Only need one of the following: Paycheck stub, W-2, 1099 SSI statement, etc. Currently enrolled in other state, county programs: CalFresh, CalWorks, MediCal/Medicaid, CA Lifeline Complete list is available at mylowcostauto.com 12| Copyright © 2019 California’s Low Cost Auto Insurance | HOW TO APPLY APPLY AT MYLOWCOSTAUTO.COM TAKE THE ELIGIBILITY QUESTIONNAIRE APPLICATION PROCESS IS 100% ONLINE CHAT IS AVAILABLE M-F 8AM –4PM WEBSITE AND CHAT ARE AVAILABLE IN ENGLISH AND SPANISH CALL 866-602-8861 13| Copyright © 2020 California’s Low Cost Auto Insurance | HOW YOU CAN PARTNER WITH CDI & CLCA HELP US DISSEMINATECLCA COLLATERAL MATERIALS IN YOUR COMMUNITY SHARE CLCA THROUGH YOUR WEBSITE AND SOCIAL MEDIA PLATFORMS INVITE US TO COMMUNITY OUTREACH EVENTS IN YOUR AREA LET US PRESENT TO YOUR STAFF OR COMMUNITY GROUP AND PLEASE REFER US TO ANY COLLABORATIVE GROUP OR PARTNERS THAT SERVE LOW TO MODERATE INCOME HOUSEHOLDS For more information about CLCA visit: Mylowcostauto.com 866-602-8861 Questions or Problems with Insurance? insurance.ca.gov Consumer Hotline 800-927-4357 Thank You! www.insurance.ca.gov 800-927-4357 Questions?