I wish there were examples here of insurance companies DECREASING their insurance rates...
Here are a few of the recent notifications filed with the Georgia Insurance Commissioner showing rates are going up with carriers:
- 3 Country companies took Auto rate effective July 1st (group indication = 27.50%)
- Country Casualty Insurance Co took 18.3% – 2,115 policyholders were affected
- Country Mutual Insurance Co took 14.9% – 48,674 policyholders were affected
- Country Preferred Insurance Co took 14.7% – 27,976 policyholders were affected
- Allied P&C Insurance Co (a Nationwide company) took Auto rate effective October 1st
- File & use for all business: overall rate impact = 10% on a 22.9% indication – 10,725 policyholders will be affected
- Prior approval on liability only business: overall rate impact = 14% on a 27.2% indication – 527 policyholders will be affected
- 2 State Farm companies took Auto rate effective October 21st
- State Farm Fire & Casualty Company will take 11.4% (on a 22.7% indication) – 103,961 policyholders will be affected
- State Farm Mutual Automobile Insurance will take 7.1% on a 12.0% indication – 1,642,407 policyholders will be affected
More rate increases means more cost to the customers. Some carriers are not experiencing the same level of losses and for that reason there may be lower rates with some carriers vs. others.
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