Auto insurance

State Insurance Commissioner Slams Allstate’s Rate Hike

Georgia Insurance and Fire Safety Commissioner John King alerted consumers on Monday that Allstate Property & Casualty Company has filed a comprehensive statewide auto rate increase of 25% for their policyholders of Georgia.

“I am angry and disappointed that Allstate has chosen to exploit a loophole in state law to implement such a substantial cost increase for hard-working Georgians when families are already struggling with a historic inflation everywhere, from the gas pump to the grocery store,” Commissioner King said. .

According to King, this latest increase means Allstate bypassed his office to raise overall rates in Georgia by 40% this calendar year. In response, King has begun conversations with legislative leaders regarding changes to state law to give the insurance commissioner’s office additional authority to protect consumers from what he describes as such “actions.” inexcusable”.

Under Georgia’s dual-rate filing system governing auto insurance rates established in Georgia state law, the Insurance Commissioner has no authority to approve or disapprove auto insurance policy filings. minimum limits, while all other deposits can take effect immediately under what is known as “deposit and use.” The latest rate increase filed by Allstate falls into this category.

This rate increase will go into effect for new Allstate customers on September 12, while current customers will see the increase on their renewals beginning October 16.

King encourages policyholders in Georgia to contact Allstate to discuss the reasons for the increase and the options available to them. Allstate can be reached by phone at 1-800-255-7828, online at www.allstate.com or on Twitter at @allstate.