A pedestrian walks by an Allstate Insurance office in San Francisco on June 9, 2023. (Justin Sullivan/Getty Images) Allstate recently received a 30 percent hike in auto insurance rates from the California Department of Insurance, said Mario Rizzo, president of property and liability at the company, in a Feb. 8 company earnings conference call.
The recent rate increase will help the company recover from a rise in accidents in recent years, an Allstate spokesperson told The Epoch Times.
“Our payments to help customers recover from accidents and disasters have increased significantly over the last few years and we need to adjust rates to reflect the cost of providing the protection our customers depend on,” the spokesperson said in an email.
Allstate’s new rates could mean increases ranging from 10 percent to up to 55 percent for California drivers, a spokesperson for the state’s insurance department told the San Francisco Chronicle.A spokesperson for […]
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