ST. LOUIS – Allstate Insurance announces that it’s raising home insurance rates by more than 14% this winter for customers who live in Illinois.
The new insurance rates will take effect on Feb. 24 and will impact about a quarter million customers. The new price hike comes after the company implemented a 12% raise last year.
Allstate says reasons for the hike include an increase in severe weather and higher repair prices. State Farm increased its rates by about 12% last May and says it does not plan to raise them this year.