Date: January 14, 2004 For more information contact: Eileen Mallow, Assistant Deputy Commissioner, (608) 266-7843 or eileen.mallow@wisconsin.gov Lowering Your Insurance Costs

Madison, WI--Each year many consumers simply write out checks for their insurance coverages and only grumble about the cost. What many do not realize is that they may be able to lower their insurance premiums.

"Most insurers offer discounts for good driving records, good health, good grades, special education, or training," said Jorge Gomez, Commissioner of Insurance. "However to get these discounts, you often have to specifically ask your insurer or agent about these programs."

Another place consumers can save money is by evaluating their insurance situation before renewing their policies. Different insurers offer different rates for identical or nearly identical products.

"Shopping around is key. Before you renew your current insurance coverage, it often pays to look at other insurers because, even though price alone should not be the sole determining factor in your insurance buying decision, you can often get the same thing for less," said Gomez.

The Office of the Commissioner of Insurance (OCI) recommends consumers take the initiative to evaluate their insurance needs, and speaking with one or more insurance agents may be helpful as consumers evaluate their options. More insurance information is available by contacting OCI. The office offers over 30 consumer publications to help Wisconsin residents make sense of their insurance options. Guides such as the Consumer's Guide to Auto Insurance and the Consumer's Guide to Homeowner's Insurance (these two guides are also available in Spanish) even include sections that allow consumers to estimate their insurance costs from a variety of insurers by comparing themselves to hypothetical groups and rate tables listed in the guides. All of the OCI's consumer publications may be downloaded at no cost from http://oci.wi.gov/pub_list.htm. Consumers may also request a hard copy of any publication by calling OCI Information and Complaints at 1-800-236-8517, or by e-mailing OCI Information at ociinformation@wisconsin.gov.

January 19-23, 2004, is national Get Smart About Insurance week. For more insurance tips, visit OCI's Get Smart About Insurance page at http://oci.wi.gov/getsmart/getsmart.htm.

Created by the legislature in 1871, Wisconsin's Office of the Commissioner of Insurance was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.