Allstate Seeks Rate Increase In Mississippi
Mississippi Insurance Commissioner Mike Chaney says Allstate Property and Casualty Co. will increase homeowner insurance rates 19.4 percent in Mississippi.
Chaney told The Sun Herald newspaper that the rate was lower than Allstate initially sought and that he “worked diligently to negotiate the requested rate down to a 19.4 percent increase.”
Company spokeswoman Allison Hatcher said no date has been finalized for the increase, though it’s expected to go up in June.
Chaney and Allstate have been wrangling over the increase since 2009, when the company filed for a 65 percent increase. Chaney rejected that increase, along with a 44 percent hike request.
Allstate said it plans to offer a 25 percent discount on homeowner policies to customers who move auto policies to the company.
