Allstate auto insurance rates jump 14% in Illinois. State Farm is up more than 8%. Both companies say inflation is to blame.

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Allstate auto insurance rates jumped 14% in Illinois and a handful of other states last month because of inflation, increased accidents and costlier repairs.

Allstate raised auto insurance rates by 14% in Illinois last month, dramatically outpacing the national average and the inflation rate. State Farm wasn’t far behind, increasing rates by more than 8% for Illinois drivers in August.

State Farm, Allstate and Progressive — the three largest auto insurers in Illinois — all filed for rate increases with the state’s Department of Insurance this year, a dramatic shift from the rebates and rate cuts that proliferated during the pandemic lockdown in 2020. “As more people are on the roads, we’re seeing an increase in claims,” Morss-Fischer said. “Auto claim costs are being compounded by record inflation and supply chain disruptions. All of this has increased the cost of labor and materials, which translates to higher auto repair costs.”to auto policyholders nationwide at the onset of the pandemic, and cut rates in Illinois by about 5% in January 2021.

 

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Out of control Car theft, catalytic converters stolen on a nightly basis, stores being robbed like everything is free. Now tell us again why are rates increasing for those of us with no claims and clean records!!! It’s like the college loan scam, We pay twice! blameFoxx

Allstate totally sucks and rips people off everyday, so this doesn't surprise me, but I can't wait for 'Jake from State Farm' to explain this one.

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