this post was submitted on 16 Jan 2024
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Huge losses from national disasters prompt industry to jack up prices and pull back from some markets; ‘worst possible scenario’ for consumers

After Allstate suffered billions of dollars in losses and failed to get the rate increases it wanted, it resorted to the nuclear option. 

The insurance giant threatened last fall to stop renewing auto insurance for customers in three states that hadn’t given in to its demands, which would have left those policyholders scrambling for coverage. The states blinked.

In December, New Jersey approved auto rate increases for Allstate averaging 17%, and New York, a 15% hike. Regulators in California are allowing Allstate to boost auto rates by 30%, but still haven’t decided on its request for a 40% increase in home-insurance rates after the insurer refused to write new policies.

For many Americans, getting insurance for both their cars and homes has gone from a routine, generally manageable expense to a do-or-die ordeal that can strain household budgets.

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[–] Pips@lemmy.sdf.org 1 points 10 months ago (1 children)

You and your fellow citizens are. That's why it's called public transit. There should be a light rail for you that's accessible. Obviously there'll still be some commuting you have to figure out yourself but most of the world has figured out getting a train from suburbs to city.

[–] FlyingSquid@lemmy.world 1 points 10 months ago

You and your fellow citizens are.

How? No one is collecting funds.

There should be a light rail for you that’s accessible.

Light rail going off a highway miles out of city limits, down a country road and into a subdivision?

Obviously there’ll still be some commuting you have to figure out yourself but most of the world has figured out getting a train from suburbs to city.

My last job was 10 minutes by car even further away from the city than I am and the only access road was on the highway. Have fun with that.