Texas Watch—Consumer Protection. Corporate Accountability. Citizen Advocacy.

Today, Allstate Insurance announced plans to increase rates on Texas policyholders 5.9%. This comes after the Texas Department of Insurance forced the company to withdraw a rate hike just weeks ago. Below is a statement from Alex Winslow, Executive Director of Texas Watch on Allstate’s latest attempt to increase its rates on Texas homeowners:

“Here we go again. Allstate just can’t help itself. Amid national media accounts about its abusive claims handling practices and exorbitant profits, Allstate is going to hike rates on Texas homeowners yet again.

“This is exactly what homeowners feared when Allstate was forced to back off a previous attempt to raise rates – more games from the insurance industry. After Allstate tried to raise rates 6.9%, the insurance department balked. Instead of giving homeowners the rate relief they deserve, Allstate has come back with a 5.9% increase. TDI should send this rate hike to the trash heap, conduct a comprehensive rate review, and give homeowners the rate relief they deserve.

“Texas homeowners are sick and tired of being overcharged for their insurance. The insurance commissioner needs to send a message that insurance price gouging won’t be tolerated by rejecting Allstate’s latest attempt to raise rates.”