CONSUMER ALERT: Allstate Files Substantial Auto Rate Increase
ATLANTA – Insurance and Safety Fire Commissioner John F. King today is alerting consumers that Allstate Property & Casualty Company has filed an overall statewide automobile rate increase of 25 percent on their Georgia policyholders.
“I am angry and disappointed that Allstate has chosen to exploit a loophole in state law to implement such a substantial increase in costs on hardworking Georgians when families are already struggling with historic inflation everywhere from the gas pump to the grocery store,” said Commissioner King. “This latest increase means Allstate has now bypassed our office to raise overall rates in Georgia by 40% in this calendar year alone. In response, I have begun conversations with our legislative leaders regarding changes to state law to give our office additional authorities to protect consumers from these types of inexcusable actions.”
Under Georgia’s dual rate filing system governing automobile insurance rates established in Georgia state law, the Insurance Commissioner only has the authority to approve or disapprove minimum limits policy filings, while all other filings can go into effect immediately under what is known as “file and use.” The latest rate increase filed by Allstate falls into the latter 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.
The Office of Commissioner of Insurance encourages Georgia policyholders to reach out to Allstate to discuss the reasons for the increase and the options available to them. Allstate can be reached by telephone at 1-800- 255-7828, online at www.allstate.com, or on Twitter at @allstate.
The mission of the Office Commissioner of Insurance and Safety Fire is to protect Georgia families by providing access to vital insurance products and safe buildings through fair regulation that creates economic opportunities for all Georgians.