Las Vegas Sun

March 28, 2024

Allstate rates rising for some, falling for others

CARSON CITY -- About half of the motorists in Clark County covered by Allstate Insurance Co. will be seeing higher rates starting in June and the other half will be getting a decrease.

Those in the northeastern, western and southern parts of Las Vegas will be hit with higher rates because of higher losses in those areas. But those in the remainder of the county will enjoy a reduced premium.

State Insurance Commissioner Alice Molasky said Monday she has approved a statewide average decrease of 0.5 percent, which will mean $350,000 in total savings for motorists.

Allstate had applied to shift rates without any changes in its net revenues. The company said it is realigning the rating territories in Las Vegas using ZIP codes as a guide. This is to combine people with like safety experience.

But Molasky ordered the company to reduce rates for collision an average of 2.7 percent statewide. She said the company's loss projections for collision appeared to be excessive.

Allstate is the third largest Nevada car insurer, covering 91,600 drivers, with 54,717 in Clark County. It has $19.4 million in losses over the past 10 years. But it has shown profits of $2.4 million in 1992, $1.4 million in 1993 and $3.9 million in 1994.

Northeastern Las Vegas, which has about 10,338 vehicles covered by Allstate, would have the highest increase. There will be hikes for bodily injury, 7.4 percent; for uninsured motorists, 30.9 percent; medical payments 12.3 percent and collision, 6.1 percent. Decreases are ticketed for property damage at 2.9 percent and comprehensive at 0.3 percent.

Western and southern Las Vegas, with 17,236 vehicles, will see increases in bodily injury at 1.8 percent, property damage at 0.2 percent, uninsured motorists at 5.8 percent, medical payments 4.3 percent, comprehensive at 15.5 percent and collision at 2 percent.

The remainder of Clark County, with 27,143 vehicles, will see a 1.5 percent decrease in bodily injury, 5.1 percent in property damage, 2.3 percent in uninsured motorist, 2.7 percent in medical payments, 18 percent in comprehensive and 4 percent in collision.

The 15,810 motorists in Washoe County covered by Allstate will see reduced rates in every category except property damage, which is rising 0.9 percent, and comprehensive, which is up 2.7 percent.

In Carson City, the 5,097 car owners will receive a decrease in each category except for a 2.5 percent jump in property damage. In the remainder of Nevada, where 15,996 cars are covered by Allstate, there will be increases in bodily injury and property damage but lower rates in the other categories.

The rate changes for new insurance are effective April 29 and for renewals June 3.

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