Auto claims frequency continues to increase but remains below 2019 levels. The Allstate Corporation (NYSE: ALL) announced preliminary results for the fourth quarter of 2022, with an estimated net loss between $285 million and $335 million and estimated adjusted net loss between $335 million and $385 million. Premiums written increased 11.4% from fourth quarter of […]
Americans Will Pay 16% More for Auto Insurance by the End of 2023
According to Insurify report, after a 9% increase in 2022, prices are projected to rise another 7% by the end of next year. The average American driver will pay nearly $1,900 for car insurance in 2023, as insurance rates continue to rise across the country. This is according to the Insurify 2022 Auto Insurance Trends […]
Allstate Receives Private Passenger Auto Physical Damage Rate Increase in California
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 […]
Allstate-Brand Auto Rates Raised 8.9% Across Six Markets
Georgia Insurance Commissioner warns of 25% Allstate rate increase coming in September. The Allstate Corporation (NYSE: ALL) provided an update on catastrophe losses and its ongoing program to raise auto insurance rates to address rising costs during July. “Allstate will continue to implement significant rate actions in the second half of 2022 in response to […]
Allstate Reports Auto Physical Damage Loss Cost Increases Widespread Across U.S.
Implements Allstate brand auto insurance rate increases of approximately 8.3% since fourth quarter of 2021. The Allstate Corporation (NYSE: ALL) estimated catastrophe losses for the month of June totaled $356 million or $281 million, after-tax. June catastrophe losses included 10 events, primarily wind and hail in the Midwest, estimated at $315 million, plus unfavorable reserve […]
Private Passenger Auto Insurance Market by State in 2021
The latest report on the U.S. private passenger auto insurance market from the NAIC details the top 10 insurers in each state as well as the size of each market overall. Data from the National Association of Insurance Commissioners (NAIC) provides a detailed view on the size and scope of the private passenger auto insurance […]
Allstate Reports Implemented Auto Rate Increases Averaging 8.1% Since Fourth Quarter 2021
The Allstate Corporation (NYSE: ALL) provided an update of its ongoing efforts to raise auto insurance rates in response to increased claim severity along with its monthly estimate of catastrophe losses for the month of May. “Allstate continued to implement meaningful rate actions in response to ongoing inflationary impacts on auto insurance severities. During the […]
Louisiana Drivers Pay Highest Car Insurance Rates
The 2021 Insure.com report on auto insurance costs shows Louisiana swiping the top spot from Michigan, which was the reigning champ for seven straight years. Louisiana, however, is no stranger to the list, having been in the top five nearly every year since the beginning of the report. “While most states experienced rate declines over […]
American Family Extends 10% Auto Insurance Credits Through March 2021
American Family Insurance announced its third round of premium relief for personal auto insurance customers due to decreased driving and claims from COVID-19, increasing the total amount of relief to $500 million since the pandemic began. American Family Insurance announced today its third round of premium relief for personal auto insurance customers due to decreased […]
USAA to Return an Additional $270 Million to Auto Insurance Policyholders
USAA, the country’s fifth largest property-casualty insurer, announced it is returning an additional $270 million dividend to auto insurance policyholders. This follows earlier announcements that USAA would provide dividends totaling $800 million to its members as a 20% credit on three months’ worth of premiums. This new, additional dividend will reflect 10% of up to […]