Allstate announces yet another auto rate increase today in NY

[NY independent]

6.9% increase effective this month on new business and renewals start next month. That's the third increase in 12 months. People will not pay these increases. My fear is that they will go uninsured, unregistered, suspended drivers license etc. If I was the CEO of Allstate, I would non-renew all of the frequency and severity policy holders at renewal, without regard to state cancellation caps, and just pay the fines to the affected states. It's got to be a lot cheaper than holding onto a book with a loss ratio well over 100% year after year.

 

[fed up]

Some will leave and most will pay because every carrier is raising rates. The cost to repair has skyrocketed, delays in availability of parts has pushed repair times out to weeks instead of days.

 

[Al3x Lee]

Some will leave and most will pay because every carrier is raising rates. The cost to repair has skyrocketed, delays in availability of parts has pushed repair times out to weeks instead of days.

Let's not forget the cherry on top - nuclear liability verdicts