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Allstate is proposing a substantial increase in homeowners' insurance rates, aiming for an average hike of 34.1%. If the request is approved, it would represent the largest rate increase of the year, affecting over 350,000 policyholders across California. The California Department of Insurance is currently reviewing Allstate's request, a process that could take several months to conclude.
This proposed increase comes on the heels of three previous rate hikes by Allstate over the past five years. The company justifies the need for the significant adjustment by citing. . .
