Auto insurance: Which Georgia companies hiked your bill the most?

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A crash and car fire shut down I-20 West just east of the Downtown Connector earlier this year. Insurers say they are increasing auto insurance premiums because accidents are on the rise. Photo credit: JOHN SPINK /JSPINK@AJC.COM

Georgia led the nation in 2016 for increases in auto insurance rates.

But which insurers hit their customers the hardest?

The AJC scoured the rate filings at the Georgia insurance commissioner’s office to study how rates have changed and to find out which companies were imposing the biggest — and smallest — increases.

AllState took the cake with an average 25 percent increase imposed on many of its customers last year. AllState — and most other insurers for that matter — sell policies through more than one company.

So, it’s important to know which AllState, State Farm or GEICO company you have because that can make a big difference in how much you are paying for coverage and how large your rate hikes will be. Also keep in mind when looking at average increases that hikes to individual drivers can vary greatly.

The industry blames big increases in traffic, crashes and the cost to repair autos in Georgia for the rate hikes. But the increases are also coming at a time when Georgia no longer requires preapproval for most rate hikes from Georgia Department of Insurance. The AJC’s Sunday story took at in-depth look at this regulatory change and the recent trend of increasing premiums. Read the full story at myajc.com.

Here’s a look at the most recent rate increases imposed by Georgia’s largest companies, based on information the AJC pulled from documents filed at the Georgia Department of Insurance.

STATE FARM  

State Farm Mutual — Georgia’s largest insurer with about 1.5 million policy holders, which represents 20 percent of the state’s market.

April 21, 2015 — 2.6 percent

April 21, 2016 — 4.0 percent

October 21, 2016 — 11.1 percent

State Farm Fire and Casualty — State Farm’s smaller company, it covers about 120,000 policy holders and has about 2.5 percent of the Georgia market.

April 2015 — 6.6 percent

April 2016 — 9.0 percent

October 2016 — 19.8 percent

GEICO 

GEICO General Insurance Co. — GEICO operates numerous companies in Georgia. GEICO General is the largest with more than 260,000 policy holders. It is also the second-largest auto insurance company in Georgia, with a 5.6 percent market share.

August 2015 — 7.5 percent

May 2016 — 4.0 percent

November 2016 — 6.9 percent

June 2017 — 14.5 percent

GEICO Indemnity Co. — GEICO’s second largest company, it has about 100,000 policy holders statewide.

August 2015 — 7.5 percent

May 2016  — 4.0 percent

November 2016 — 6.9 percent

June 2017 — 8.2 percent

PROGRESSIVE 

Progressive Mountain — Progressive also has several companies operating in Georgia and this is the largest with a 5.3 percent market share.

July 2015 — 3.5 percent

October 2016 — 4.8 percent

January 2017 — 5.0 percent

Progressive Premier — Georgia’s second largest Progressive company, Premier has a 4.2 percent market share.

October 2016 — 3.1 percent

January 2017 — 5.1 percent

ALLSTATE 

Allstate Fire and Casualty — The largest Allstate company in Georgia, it has a 3.6 percent market share. It is the fifth-largest company statewide for auto coverage.

April 2015 — 6.3 percent

October 2015 — 11.9 percent

May 2016 — 3.4 percent

May 2017 — 5.5 percent

Allstate Property and Casualty — This Allstate company has nearly the same market share as Fire and Casualty and is the state’s sixth-largest company for auto coverage.

April 2015 — 4.9 percent

October 2015 — 9.9 percent

May 2016 — 25 percent

May 2017 — 4.9 percent

 


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