The California Department of Insurance has ordered Allstate Insurance to cut its homeowner’s insurance rates by 28.5 percent, one of the largest cuts ever required. On average, the each of the 50,000 Allstate ratepayers in California will save approximately $243 in premiums.
“For the Insurance Commissioner to not only reject Allstate’s request for a rate increase, but to also accept our arguments for a substantial decrease, is a tremendous victory for California homeowners,” stated Los Angeles attorney Daniel Y. Zohar. “In these times of economic uncertainty, hundreds of thousands of consumers will be able to keep more of their hard-earned money, rather than have to line the ever-swelling pockets of Big Insurance.
Obviously disappointed, Allstate has state it will comply with the ruling.
The Vista personal injury lawyers at Walton Law Firm LLP represent individuals and families throughout San Diego County who have been injured in accidents, including car and motorcycle accidents, pedestrian accidents, construction accident, and all other personal injury matters.