State Officials Order Allstate to Reduce Homeowners' Rates

John Rice

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The Allstate Insurance Company must reduce Texas homeowners insurance rates by 5% as ordered by the Texas Department of Insurance.

Allstate must also refund overcharges made since December 2004 which amounts to an estimated $56 million dollars. This was announced after the Department upheld the insurance commissioner's claims that Allstate's rates were excessive, unreasonable and unfairly discriminatory.