Allstate is not catching a break! And, it looks as though the same may be true for the homeowners they insure! According to Allstate, $2 billion was lost in the April and May months due to sever tornadoes and thunderstorms.
This recent loss has nearly matched the losses the insurance provider endured for the entire year of 2010 ($2.21 billion) ….in just two months! This two-month time period ranks as on of the worst in Allstate’s history, alongside 1994 Northridge earthquake in California and Hurricane Andrew in 1992.
According to Huffington Post, Allstate has reported 1.4 billion in pretax losses for April and further revealed last Thursday that it lost an additional $600 million from seven separate events in May.
The industry as a whole has suffered from recent severe weather events, and may be considered the costliest in history. However, homeowners may be better off finding insurance with insurers that didn’t suffer such enormous losses! Allstate insured homeowners will likely pay a 25% increase in their homeowners rates if they renew their policy.
For our GA Homeowners, that’s an average $172 increase!
Today, every penny counts and an increase for the same homeowner’s coverage is the last thing Georgia homeowners need. At Gillman Insurance, we can find you BETTER coverage for LESS, particularly with a rising homeowner’s insurance policy. Not to mention, because we are an agency and represent multiple insurance companies, our loyalties are always with our CUSTOMER!
Let us help you find the coverage you deserve at a price you can afford. Contact us today!