Allstate, GEICO Hiking Car Insurance Rates in Illinois

Recently released Illinois rate filings show that consumers with private auto policies at major insurers Allstate and GEICO will see higher rates in the coming months.

Drivers may be trying to find cheap car insurance from other providers after these changes take effect, although the changes will vary from customer to customer depending on a number of factors, including where they live and discounts they might currently be enjoying.

Allstate Increases Effective This Month

Three companies under the Allstate banner reported increases to auto liability that will go into effect May 17:

–Allstate Fire and Casualty will see a 9 percent increase.

–Allstate Insurance will see an 8 percent increase.

–Allstate Property and Casualty will see a 5.6 percent increase.

Allstate did not report any changes to physical damage coverage.

Renewing GEICO Customers Will See Higher Rates in June

GEICO announced rate changes for four of its companies in their most recent filings in Illinois, all of them which will be effective on May 10 for new customers and June 25 for renewing policyholders.

GEICO Casualty will hike auto liability by 5.3 percent. The auto liability increase at GEICO General and at Government Employees Insurance Company will be 4.9 percent.

GEICO Indemnity will increase auto liability by 3.1 percent but will also decrease physical damage coverage by 4.7 percent.

Decreases Reported at Other Companies

In the latest filings, several insurers announced rate drops in both physical damage and auto liability coverage.

Madison Mutual reported decreases of 2.8 percent and 3.1 percent to its auto liability and physical damage coverage. New customers saw the changes in April and renewing customers will see them June 1.

Another insurer with comparable premium volume is Interstate Bankers Casualty, which instituted new rates in April that represented a 2 percent decrease for both auto liability and physical damage.

In the filings, American Alliance posted planned decreases of 4.1 percent to auto liability and 5.5 percent to physical damage that will go into effect June 9 for renewing customers. The new rates went into effect April for new business.

Conifer reported a 3.8 percent drop in rates for auto liability and an 8.2 percent reduction for physical damage coverage that goes into effect on June 12 for renewing policyholders.

Effective in May for all business, United Automobile will decrease rates for auto liability by 0.5 percent and physical damage by 1.5 percent.

About John Pirro
John Pirro is a licensed fire and casualty insurance agent specializing in various aspects of the auto insurance industry. He worked in the auto body repair industry before taking a reporting position at Online Auto Insurance News.

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