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.
The Allstate premium increase, announced Thursday, averaged about 3.2% across the U.S., according to the Northbrook-based insurer.
For the year, Allstate has increased auto insurance rates by 26% for Illinois drivers, far above the national average of about 10%, spokeswoman Mallory Vasquez said in an email. With the consumer price index up 8.3% through August, inflation alone doesn’t account for Allstate’s sharp rate hikes in Illinois and other states.
