Allstate’s NJ rates are already pretty high.. I don’t think they’ll have the whole request approved. Not that it’s a crime, but the name of Allstate’s game isn’t being an insurance company.. it’s simply charging the highest rate the market will bear… which is why they’re policies in force numbers are shrinking.
This is only the beginning. Allstate is the largest auto carrier in N.J. The soft market for auto insurance is ending. You are going to see rate increases across the board for all the auto companies doing business in N.J. The costs (medical, repair, ect.) continue to go up. Therefore, the insurance premiums must follow. AND, the insurance companies are not making any money on their investments, so they need to make a pure profit now and not rely on investment gains. I am sure Geico and others are not too far behind with rate increases.
I had a call from a client last night his renewal went up 35%, thats right 35%!!!! in upstate ny, the carrier isn’t Allstate though. Keep each other posted about the rates being taken.
Amen, Realist. New Jersey is a cesspool (I currently reside there) The state has a very high immigrant population that contributes little if anything. It can’t speak English and uses Hospital ER’s for FREE medical care. (we pay for it) It doeesn’t buy insurance so there’s no subrogation on collision claims. It also boasts the highest personal injury to poplulation ration in the U.S. at 1 attorney for every 550 people. As for the cost of car repairs, it’s the parts, not the labor that are driving costs up. I forgot to mention NJ has the most corrupt and incompetent government in the country too. (have you read “The Soprano State”?)I’ve discovered that NJ residents are too lazy to rebel and try to make changes in anything. Probably because most are escapees from the other cesspool called New York and think NJ is paradise by comparison. They deserve everthing they get.
Allstate’s NJ rates are already pretty high.. I don’t think they’ll have the whole request approved. Not that it’s a crime, but the name of Allstate’s game isn’t being an insurance company.. it’s simply charging the highest rate the market will bear… which is why they’re policies in force numbers are shrinking.
This is only the beginning. Allstate is the largest auto carrier in N.J. The soft market for auto insurance is ending. You are going to see rate increases across the board for all the auto companies doing business in N.J. The costs (medical, repair, ect.) continue to go up. Therefore, the insurance premiums must follow. AND, the insurance companies are not making any money on their investments, so they need to make a pure profit now and not rely on investment gains. I am sure Geico and others are not too far behind with rate increases.
I had a call from a client last night his renewal went up 35%, thats right 35%!!!! in upstate ny, the carrier isn’t Allstate though. Keep each other posted about the rates being taken.
Everybody has to help share the burden of paying for the illegals, who pay nothing and get everything.
Amen, Realist. New Jersey is a cesspool (I currently reside there) The state has a very high immigrant population that contributes little if anything. It can’t speak English and uses Hospital ER’s for FREE medical care. (we pay for it) It doeesn’t buy insurance so there’s no subrogation on collision claims. It also boasts the highest personal injury to poplulation ration in the U.S. at 1 attorney for every 550 people. As for the cost of car repairs, it’s the parts, not the labor that are driving costs up. I forgot to mention NJ has the most corrupt and incompetent government in the country too. (have you read “The Soprano State”?)I’ve discovered that NJ residents are too lazy to rebel and try to make changes in anything. Probably because most are escapees from the other cesspool called New York and think NJ is paradise by comparison. They deserve everthing they get.