Good news for GEICO car insurance customers in California.

California Insurance Commissioner Dave Jones has approved GEICO car insurance rates that will reduce premiums for California policyholders by 10.7 percent. In all, more than 717,000 GEICO policyholders in California will save $91 million a year, according to Jones.

The average GEICO car insurance policyholder in California will save $127 a year, according to Jones. In the Los Angeles area, the average customer will save $238 a year. In the San Diego area, average savings will be $163 a year.

Jones says: “It is good news when consumers pay less for premiums and are able to keep more of their earnings.”

The rate decrease takes effect Aug. 15.

GEICO is California’s seventh largest car insurer.