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From WXIA (“11Alive”) in Atlanta:
A proposed rate hike for automobiles insured by Allstate will go in effect May 22, the [Georgia] Insurance and Safety Commissioner's office says.
According to the Commissioner's office, Allstate is expected to increase the rate by 25 percent, but warned that that figure is only an average for the entire state. The agency says some customers should be prepared to see a rate change as high as 58.3 percent.
After the hike was proposed, the company told 11Alive they considered the rate increase carefully, and that it would impact less than half of their customers in Georgia.
From Allstate: “We work closely with state departments of insurance whenever we adjust our rates, and look forward to a continued dialogue with the Georgia Department of Insurance. As is industry standard, changes in market conditions require that we set rates that are adequate for the coverage we provide. Increases in the number of miles driven, the amount of traffic fatalities, and the costs associated with repairing vehicles have caused the insurance industry to experience a significant increase in both the number of claims received as well as the cost associated with settling these claims.”
Allstate insurance rate hike goes into effect Sunday | 11alive.com
Imagine there might be quite a few calls for rate quotes when the next statements with the increases start hitting mailboxes.
A proposed rate hike for automobiles insured by Allstate will go in effect May 22, the [Georgia] Insurance and Safety Commissioner's office says.
According to the Commissioner's office, Allstate is expected to increase the rate by 25 percent, but warned that that figure is only an average for the entire state. The agency says some customers should be prepared to see a rate change as high as 58.3 percent.
After the hike was proposed, the company told 11Alive they considered the rate increase carefully, and that it would impact less than half of their customers in Georgia.
From Allstate: “We work closely with state departments of insurance whenever we adjust our rates, and look forward to a continued dialogue with the Georgia Department of Insurance. As is industry standard, changes in market conditions require that we set rates that are adequate for the coverage we provide. Increases in the number of miles driven, the amount of traffic fatalities, and the costs associated with repairing vehicles have caused the insurance industry to experience a significant increase in both the number of claims received as well as the cost associated with settling these claims.”
Allstate insurance rate hike goes into effect Sunday | 11alive.com
Imagine there might be quite a few calls for rate quotes when the next statements with the increases start hitting mailboxes.
