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Letter to the Editor

Allstate Latest of Top Insurers in Alabama to Cut Auto Rates

A M Best has reported that Allstate Insurance has reduced automobile insurance rates 4 percent overall in Alabama, its first decrease in the past five years.

The actual amount of the Allstate decrease, effective Sept. 25, will depend on the coverages in the policy. For example, the largest decrease was in physical damage coverages where comprehensive went down 17 percent and collision dropped 10 percent, resulting in an overall savings of $5 million to policyholders.

Alabama's mandatory auto insurance law, which took effect June 1, had no effect on recent auto rates, according to Allstate.

Allstate has seen an increase in the number of customers since June 1, as have State Farm and Alfa. State Farm has added more than 57,000 policies since May.

Alabama has the third-highest percentage of uninsured drivers, according to a study by the Insurance Research Council, Malvern, Pa. The mandatory insurance law calls for a $500 fine for drivers who can't produce proof of insurance when stopped by police. A second offense could result in a fine of up to $1,000, and repeated violations could lead to a license suspension and jail time.

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