Allstate, State Farm continue to raise rates, citing inflation, crash severity

“keys, money, and an auto insurance bill”

Allstate and State Farm have continued to pursue significant auto insurance rate increases as they react to inflationary pressures and increases in auto accident severity.

Allstate, which reports its monthly auto rate actions on its investor relations page, said it implemented rate increases of 14.5% across eight locations, resulting in a total brand premium impact of 3.2%.

Since the start of 2022, the carrier has implemented 72 rate increases averaging 10.3% across 51 locations. The increases totaled $777 million in August and $2.5 billion year-to-date, according to Jess Merten, chief financial officer of Allstate Corp.

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Robert Molina

Robert Molina writes insanely useful guides about the auto body repair process and what you need to know to make the process less stressful.  With more than 25 years of experience as an independent auto body shop owner, he’s on a mission to stamp out gobbledygook and raise the bar for quality collision and auto body repairs.