Why did Allstate raise my rate by $400 at renewal?
I live in Los Angeles and switched from Progressive to Allstate six months ago. I just received my renewal offer and my rate has gone up $400. Why did it go up?
Apr 20, 2021
Answer provided by
Answered at Apr 20, 2021
“A renewal for a car insurance policy is a way for both you and your insurance carrier to review your coverage before agreeing to another term. Carriers will look at any new information and adjust your rate based on that. If you got into an accident or got a ticket during your last policy term, they may be rating your new policy term for that.
Insurance carriers also often adjust rates based on data and other information they gather from policyholders. For example, if there has been an increase in vehicle thefts in your area, insurance carriers are going to rate policies for that risk.
If you’re unhappy with the rate that your current carrier is offering you, shop around! Every carrier is different. By comparison shopping, you’ll be able to find the best rate for you and your budget.
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