Allstate's homeowners insurance rate to go up an average of 34%, largest increase in CA in 3 years

SAN FRANCISCO (KGO) -- California's Department of Insurance has approved Allstate's request for the largest rate increase in the state - more than any major insurer in the past three years, according to the San Francisco Chronicle.

Allstate's homeowners insurance premiums will go up by an average of 34% for more than 350,000 customers.

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Policyholders will see the increase on their bill at their first renewal date, following Nov. 7.

The insurer cited higher repair costs, frequent severe weather events and legal system abuse for the increase.