Allstate Raising Rates Again in IL!! - Chicagoland Sportbikes
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post #1 of 21 (permalink) Old 05-04-2012, 02:55 PM Thread Starter

 
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Allstate Raising Rates Again in IL!!

Allstate hits the gas on car insurance rates
By: Steve Daniels
May 03, 2012

(Crain's) — Goodbye, hometown discount.

Allstate Corp. is increasing car insurance rates in Illinois by 3 percent to 5 percent beginning May 17, according to company filings with the Illinois Department of Insurance. The size of the increases will depend on how long a customer has been with the company.

Coupled with smaller auto rate hikes in Illinois last year, Northbrook-based Allstate essentially has reversed the effects of a special 5 percent rate cut it instituted in 2009 in Illinois. It heavily advertised the cut as a “hometown discount” in hopes of reversing a slide in market share, in part due to cheaper insurers like Washington, D.C.-based Geico, which sells over the Internet rather than through agents.

Coincidentally, though, Geico is also raising auto insurance prices in Illinois. Most of its customers here will see a 2.5 percent rate hike, beginning June 25. For new customers, the new rates will take effect May 10.

Bloomington-based State Farm Insurance Cos., the largest car insurer in the state, cut its auto rates 2 percent in December after a series of increases over the previous three years.

A spokeswoman for Allstate, the second-largest car insurer in Illinois, wasn't immediately available for comment.


*We've already got really good rates against Allstate clients from what we're seeing in the office. If you've got Allstate...give me a shout. Chances are I can probably save you some money. (and provide outstanding service to boot!!)

Peter Katowicz
State Farm® - Agent
108 E Lake St. Unit 2
Bloomingdale, IL 60108
Office: (630) 980-9809
Fax: (630) 980-9858
[email protected]
www.PeterIsMyAgent.com

Benjamin Franklin - “It is a strange anomaly that men should be careful to insure their houses, their ships, and their merchandise, and yet neglect to insure their lives”.
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post #2 of 21 (permalink) Old 05-04-2012, 02:57 PM
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whats your companies net increase vs there's the past few years?

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post #3 of 21 (permalink) Old 05-04-2012, 03:07 PM
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Pete already saved me money over Allstate, can only imagine what the savings would be now.

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post #4 of 21 (permalink) Old 05-04-2012, 03:21 PM
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post #5 of 21 (permalink) Old 05-04-2012, 03:24 PM
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up yer butt, jobu!

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post #6 of 21 (permalink) Old 05-04-2012, 03:25 PM
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up yer butt, jobu!
LMAO...that was the best line in the movie!!


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post #7 of 21 (permalink) Old 05-04-2012, 04:02 PM
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I must be a great customer with Allstate, cause I'm yet to find someone that can even match what I pay.

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post #8 of 21 (permalink) Old 05-04-2012, 04:09 PM
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Pete already saved me money over Allstate
this^
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post #9 of 21 (permalink) Old 05-04-2012, 04:13 PM
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Nationwide blew State Farm away last year, home, auto, toys, etc
wasnt close. I was a 20 year + SF customer

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post #10 of 21 (permalink) Old 05-04-2012, 04:47 PM
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Allstate has to find a way to cover the cost of the eSurance Buy

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post #11 of 21 (permalink) Old 05-06-2012, 05:01 PM Thread Starter

 
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Insurance rates are funny.

The way they're calculated makes things very complicated.

Couldn't tell you what their net increase over ours would be...doesn't matter I guess really. The base rate is the base rate, add in "discounts" and you get current price. Add in "phantom" discounts, and you get a temporary price, and so on. So, it's hard to tell what the increases do "for real".

My advice...find the best company in your area (calling any body shop and asking them who is good, or asking any contractor who does home repair for insurance is good), tie in the company that gives you the best service (so, we're looking at best company + best service) and stay with that company.

If you want the cheapest rate...it's easy to find. Google: "Magnum Insurance Phone Number", or something similar.

Remember folks...insurance is not a commodity. You get what you pay for...it's not all about price.

The reason I bring up the price with Allstate, is simply to let people with Allstate to know that if they're unhappy with the company, now might be a time to come talk to me. Quite frankly, in my area, we're writing Allstate customers all day. Certain companies we're competitive on, certain companies we're not right now. But that will change. Geico was ALWAYS the lowest, not for much longer. In the industry, other company were just waiting for Geico to start raising rates (it's a guarantee, just a matter of when). Price causes people to shop. Though I don't agree with that necessarily, I love CLSB clients...so if I bring to your attention that company "A" has an increase...maybe you'll give me a shot.

As for Mr. JRSMAIL...well, in his area we're higher. BUT don't worry...I'm not giving up on you buddy. One day you'll be a client of mine!!

Peter Katowicz
State Farm® - Agent
108 E Lake St. Unit 2
Bloomingdale, IL 60108
Office: (630) 980-9809
Fax: (630) 980-9858
[email protected]
www.PeterIsMyAgent.com

Benjamin Franklin - “It is a strange anomaly that men should be careful to insure their houses, their ships, and their merchandise, and yet neglect to insure their lives”.
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post #12 of 21 (permalink) Old 05-06-2012, 06:31 PM
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I need to shop my insurance around. Homeowners just went up 20% to $1100!!! How does that happen when my home and land value fell 20%?!
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post #13 of 21 (permalink) Old 05-06-2012, 06:50 PM
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Allstate has to be the most expensive insurance company out there . They quoted me $1200 a year for liability on a 1994 Isuzu rodeo a few years ago . I have a perfect driving record.

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post #14 of 21 (permalink) Old 05-06-2012, 07:01 PM
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I need to shop my insurance around. Homeowners just went up 20% to $1100!!! How does that happen when my home and land value fell 20%?!
Gotta make up the difference somehow.

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post #15 of 21 (permalink) Old 05-06-2012, 07:09 PM
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I need to shop my insurance around. Homeowners just went up 20% to $1100!!! How does that happen when my home and land value fell 20%?!
see...now thats the thing...its really quite complicated...

Mike

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post #16 of 21 (permalink) Old 05-06-2012, 07:32 PM

 
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my cabin up in the nort' woods went up by 30% from State Farm. I called and they took 10 days to give me an explanation. It turns out they had not figured it correctly. HMMMMMMMM .........I'm shopping a new policy.......

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post #17 of 21 (permalink) Old 05-06-2012, 08:20 PM
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Originally Posted by STANIMAL View Post
Allstate has to be the most expensive insurance company out there . They quoted me $1200 a year for liability on a 1994 Isuzu rodeo a few years ago . I have a perfect driving record.
On the contrary, when I moved to Kansas, their rates were blowing USAA out of the water (not an easy task I might add). So weird how different the experiences can be...
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post #18 of 21 (permalink) Old 05-06-2012, 08:27 PM Thread Starter

 
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I need to shop my insurance around. Homeowners just went up 20% to $1100!!! How does that happen when my home and land value fell 20%?!
Quote:
Originally Posted by 2weelpilot View Post
see...now thats the thing...its really quite complicated...
To the above two comments...not really complicated unfortunately. In order to keep your rates DOWN, you're insured along with millions of other people. Unfortunately, 2007 and 2008 were record claims years (and the majority of the claims causing these records were on the homeowners side). 2011 became the new record high claims year. This is not a State Farm number either because we insure the most homes in the US....it's industry wide. More companies paid out more money than they ever have before. So, insurance rates go up. Even if you didn't have a claim, you're still pooled with others.

Now, if you want to have someone/something insure just YOU, so you're not grouped with other people. The law of #'s won't apply, and your rates would be outrageously high. The reason you are pooled with other people is to make rates lower.

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Originally Posted by butchf View Post
my cabin up in the nort' woods went up by 30% from State Farm. I called and they took 10 days to give me an explanation. It turns out they had not figured it correctly. HMMMMMMMM .........I'm shopping a new policy.......
What was the explanation? And, if it took 10 days for an explanation, that's the agents fault, or the agent's staff fault, not the company. You should take that up with the agent. That's just bad service, IMO. But who knows, hopefully they have a good explanation as to why it took so long.

Quote:
Originally Posted by bwa View Post
On the contrary, when I moved to Kansas, their rates were blowing USAA out of the water (not an easy task I might add). So weird how different the experiences can be...
That is true. USAA, because it's exclusive, does have great rates. Good service too. USAA is a good insurance company.

Peter Katowicz
State Farm® - Agent
108 E Lake St. Unit 2
Bloomingdale, IL 60108
Office: (630) 980-9809
Fax: (630) 980-9858
[email protected]
www.PeterIsMyAgent.com

Benjamin Franklin - “It is a strange anomaly that men should be careful to insure their houses, their ships, and their merchandise, and yet neglect to insure their lives”.
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post #19 of 21 (permalink) Old 05-07-2012, 09:18 AM
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Yeh I understand that Ireland Grove isnt full of magic money trees, but it's time to cross shop. I had a hail claim but accordting to my agent, and my renewal letter, because I was claim-free for 14+ years this one didnt count against me.
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post #20 of 21 (permalink) Old 05-07-2012, 09:24 AM
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Yeh I understand that Ireland Grove isnt full of magic money trees, but it's time to cross shop. I had a hail claim but accordting to my agent, and my renewal letter, because I was claim-free for 14+ years this one didnt count against me.
John, come one, you're a smart guy.
You know they're telling you one thing but internally there's all kinds of lights and buzzers going off and you've now been flagged as a habitual offender!!!!!!

Mike

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post #21 of 21 (permalink) Old 05-07-2012, 10:21 AM
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Sorry...forgot the
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