InsuranceBusiness: Allstate reveals plans to raise auto insurance rates
Insurance Business America reports on Allstate's plans to raise rates for customers:
"To address mounting loss costs driven by inflation, Allstate has revealed it will be increasing its auto insurance rates.
The decision to increase rates represents an approximate 5.1% increase in Allstate’s total auto insurance written premiums. The insurer has implemented 41 rate increases since Q4 2021, averaging 7.8% across 34 locations – these increases equate to about $1.2 billion in gross premiums."
Read the full article here.