Tag: allstate auto insurance

Allstate CEO says State Farm auto insurance rates will soon increase

Nordstrom
Auto insurance - Rates increasing

Tom Wilson has predicted that his company’s largest competitor will also be raising rates. President and CEO at Allstate Tom Wilson has predicted that State Farm will also be pushing to make auto insurance rate hikes in 2023, when he spoke at the Goldman Sachs 2022 US Financial Services Conference. Allstate has already started requesting rate increases and expects State Farm to do the same. Wilson pointed to the increased prices as a response to inflationary pressures and rising loss costs, and that the move will provide the home and…

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Allstate survey shows motorists shut off nuisance driver assistance technology

Julie Campbell
Driver assistance technology - Car with GPS tech

As vacation season begins in Canada, the insurer is encouraging motorists to use the tech properly. Vacation season is heading into full swing in Canada, where a recent Allstate survey has found that motorists are annoyed by driver assistance technology and have been shutting it off. The insurance company is hoping to emphasize the importance and benefit of using the tech as recommended. To an increasing degree, vehicles are being equipped with driver assistance technology as a standard feature. These include vehicle proximity alerts, rear-view cameras and others. Some of…

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Does usage-based car insurance require more oversight in the US?

Nordstrom
Usage-based car insurance - man studying report

A report by the Consumer Federation of America calls for state regulators to keep closer tabs. The Consumer Federation of America has published a report strongly urging regulators across the United States to apply greater oversight to usage-based car insurance. These programs use telematics to measure policyholder driving habits and apply discounts for safe behaviors. The consumer advocacy group has been pushing state regulators to take this step with usage-based car insurance programs while adopting a number of other consumer protections. It sought to have those regulators apply greater scrutiny…

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Allstate’s attempt to overturn jury verdict for underinsured driver benefits denied

Logan B.
Allstate Insurance News

The Supreme Court of Texas has turned down the insurer’s attempt to overturn the verdict. Allstate Insurance’s efforts to overturn a jury verdict having to do with underinsured driver benefits have been denied by the Supreme Court of Texas. The high court upheld the jury verdict in a 5-4 decision regarding a 2016 claim. The Supreme Court decision upheld the $95,000 jury verdict from the Bexar County court in favor of Daniel Wes Irwin. That verdict required Allstate to pay Irwin the full sum of $50,000 underinsured driver benefits from…

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State Farm auto insurance rates rise as Allstate reins them in

Logan B.
State Farm auto insurance rates - Person with car key

The Bloomington-based insurer is raising premiums for drivers in at least 5 major states. State Farm auto insurance rates will be on the increase as the insurer begins to withdraw some of the considerable price cuts it put into place last summer. The insurance company slashed premiums for drivers during the pandemic to reflect reduced driving. In fact, the decreased State Farm auto insurance rates were the first among the major vehicle insurers to make the nationwide cuts. The company reduced premiums by an average of 11 percent across the…

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Allstate car insurance rates shift into reverse

Marc
Allstate car insurance rates - hand on gear knob

The Good Hands insurer swam against the premium-reduction current last year but is changing directions. Last year, Allstate car insurance rates didn’t experience the same reductions as many other national auto insurers were offering in 2020. Many insurers made their coverage cheaper to reflect the reduced driving trends resulting from the pandemic. The national auto insurer recently announced that it was changing directions with its premiums. Allstate car insurance rates are being cut in a number of large states across the country. In this way, the insurer is joining Progressive,…

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Another Allstate auto insurance rebate is likely to be issued to policyholders

H. Cutner
Auto insurance rebate Truck parked in driveway

The insurer is moving to provide drivers with further relief as the pandemic continues to slash miles. The Allstate Corp insurer will likely issue another auto insurance rebate to its policyholders as a result of decreased driving habits throughout the pandemic, said the company’s CEO Tom Wilson. This additional reduction will be meant as a reflection of the ongoing driving reduction in certain areas. Allstate announced its first auto insurance rebate wave on April 6. At that time, it was returning over $600 million in premiums to its policyholders. The…

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