California Insurance Commissioner Adopts Order Reducing Allstate Premiums 28.5 Percent

California Insurance Commissioner Steve Poizner on July 8 adopted a chief administrative law judge's July 3 order approving a 28.5 percent rate decrease for Allstate Insurance Co. and Allstate Indemnity Co.'s  homeowners multiple-peril line of insurance.  The decrease will become effective July 28.

Chief Administrative Law Judge Marjorie A. Rasmussen's order rejected Allstate's initial request for a 9.3 percent rate increase for its homeowners multiple-peril line of insurance.

"In today's sputtering economic environment, people need all the help they can get just to pay the bills.  That's why I am pleased to order this tremendous rate cut today, which will save homeowners a quarter of a billion dollars on their insurance," said Poizner in a July 10 press release.

 

 

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