The increase is the first for Allstate in nearly five years and first for the industry in more than two years since the start of the pandemic.
On October 30, the California Department of Insurance (CDI) approved Allstate’s request for a 6.9% increase in its personal auto liability and physical damage rates. The CDI has been holding off on approvals for rate increases for auto insurance, with Insurance Commissioner Ricardo Lara saying last year that insurers overcharged consumers during the pandemic when driving declined.
As recently as September, the CDI was saying that the lack of recent rate increases was
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