Allstate Rates for Texas Homeowners Could Go Up
Allstate Insurance has asked Texas regulators to allow the company to raise homeowner rates by nearly 10 percent for some customers.
Allstate spokesman Joe McCormick told the Dallas Morning News that the industry is concerned about the potential for more wildfires, especially as the drought continues.
The filing with the Texas Department of Insurance seeks a 5.7 percent average statewide increase for customers of AllState Texas Lloyds. Policyholders with Allstate Fire and Casualty could face an increase of an average 9.8 percent.
The Allstate subsidiaries cover about 585,000 Texas homeowners.
The higher rates, subject to regulatory review over the next 30 days, would take effect Jan. 26 for current customers. New customers will pay more beginning this week.
The consumer group Texas Watch has objected to higher rates.
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