Allstate hiking renters’ insurance in Illinois

By Becky Yerak
Posted July 19, 2010 at 4:53 p.m.

Allstate Corp. is hiking its renters’ insurance by an average of 16.8 percent in the state of Illinois. Renters’ insurance typically costs around $15 a month, a spokeswoman for the Northbrook-based company said, adding that consumers might see monthly increases ranging from $1 to $5 a month.

Allstate said it’s the first time it has increased its renter’s insurance in the state in 10 years.

The rate boost is attributed to more frequent and more severe claims, the spokeswoman said.

The increases take effect Aug. 16.

Allstate said, however, that renters who sign up for another Allstate product such as car insurance, and who use Allstate’s EZ Pay system, can save up to 25 percent on their renters’ insurance, more than offsetting the increase.


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