This week, Georgia Insurance and Fire Commissioner, John F. King announced Allstate will be raising their Auto rates for Georgia policy holders. Allstate will be raising their rates 25% starting September 12. Policy holders will see the change on their upcoming statements on October 16, 2022.
Among other insurance companies, Allstate was the highest to raise their rates. Nationwide did not raise their rates at all, State Farm raised rates 5%-8%, and Progressive was a 6.5% rate increase.
King spoke with WSBTV stating, “There’s clearly a loophole, and this is the only company that’s used this. I mean, most companies we work with understand we are in incredibly economic trying times, and they work with us.” (Justin Gray, 2022) The loophole King referred to is called the “File and Use”.
What does this mean for you?
If you are going to be affected by the rate increase, you should shop around sooner than later. If you need help shopping for rates, we would be happy to help shop all our carriers for you. Give us a call at 770-720-1314 or fill out our quote form by clicking Quote Now below!
References
Justin Gray. (2022, August 17). Allstate is taking advantage of insurance loophole, Georgia Insurance Commissioner says. Retrieved from WSBTV Atlanta: https://www.wsbtv.com/news/georgia/georgias-insurance-commissioner-says-allstate-is-taking-advantage-insurance-loophole/YVLZGLDNVBDLVHYXHJMQKNJVUA/
