The nay-winning vote tally marks the second time in two years that voters turned down such an effort by insurers.
Supporters of the measure, which gained 99% of its funding from the Chairman of insurer Mercury General Corp., George Joseph, said the move would have increased competition within the market. Just as any market-based argument, he stated it would thus result in lowered rates for a majority of drivers.
Opponents, led by Consumer Watchdog, stated that the discounts would have been easily offset by higher prices on those who had to keep inconsistent insurance. Individuals who discontinued insurance due to unemployment, inability to drive, or the lack of a vehicle altogether, would be punished for reasonable situational uninsured periods.
Critics also stated that the measure would erode the rights afforded by Proposition 103, which was an initiative approved over two decade go that noted that insurers could not factor past coverage when setting rates.
Joseph contributed $16.9 million to campaign the measure. His budget easily trumped the $275,000 that was raised by opponents of the measure.
The first time such a measure was voted down was during the 2010 election period. Proposition 17 held many of the same core concepts and effects of Prop. 33. The supporters of the currently rebuffed measure stated the most recent version had more discounted rates than the last.
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