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Originally Posted by MoeTE87
I have Allstate for auto and home insurance and their prices are getting ridiculous.
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It's not just Allstate, I can assure you that. I work for a fortune 100 insurance company, it's really ugly right now, not just for us for every carrier out there. Billions in underwriting losses, combined ratios well above 100%, wide-spread layoffs, massive efforts to no longer grow but simply get profitable, etc.
Quote:
Originally Posted by MoeTE87
Note: Wife and I have clean driving records. No accidents and no tickets.
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This will only prevent an even bigger rate increase, unfortunately. Even with a clean record you're not immune to potentially multiple rate increases per year.
The auto insurer I use (different from the company I work for) recently went from 12 month to 6 month policy terms, clearly an attempt to implement rate changes more often.
* worth mentioning - to those who keep shopping around to find better rates, there's definitely nothing wrong with that. But keep in mind most insurance companies have a 'get you in the door rate' that initially sounds really good, but will re-adjust at subsequent renewals to get your premium up into the proper range.