Allstate's Good Hands Will Cost You

Insurer raising rates by as much as 28 percent

By Lora LeSage
|  Monday, May 25, 2009  |  Updated 6:16 PM CDT
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Allstate's Good Hands Will Cost You

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Those good hands Allstate talks about are going to cost you more.

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If you own a home in Illinois, you'll be in good -- and more expensive -- hands with Allstate.

Allstate Corp. is raising homeowners insurance rates across the state by as much as 28 percent in June, Crains reports.

The move comes after several of the major home insurers in Illinois raised their premium rates to combat costly weather claims.

Allstate CEO Thomas Wilson said storms other than hurricanes "been at record levels" over the past three years.

"We have to adjust for that because we should take in slightly more money than we pay out," he tod Crains.

Car and auto insurance are among the two biggest costs for in most home budgets.

Allstate, State Farm, Geico and Progressive have all raised car rates recently.

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