But Allstate continues to assert that they conducted the necessary studies to ensure the rate hike was a fair one.
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.
By offering a broad range of innovative protection options, Allstate provides strong value to our customers. We adjust rates very carefully to charge properly for the risk we assume and ensure our ability to protect customers from life’s uncertainties. This particular rate filing applies to one of Allstate’s three underwriting companies in GA and represents less than half our auto insurance business in the state.
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.
We encourage all our customers to regularly consult with their Allstate agent about the most appropriate coverage and available discounts for their particular circumstances.
Regardless, an outside firm is being asked to look into the rate hike, and customers are urged to review their policies and look for alternatives, if necessary.