Major insurers hike state auto insurance rates post-lockdown

Major insurers hike state auto insurance rates post-lockdown

Policyholders across Arizona will soon be shelling out more money for auto insurance as cars – and associated risks – return to the road in a post-lockdown setting.

Arizona is one of the few states that do not require insurance companies to seek government approval for increases. As such, several insurers including Geico, Allstate, Progressive and Farmers have enacted auto-premium rate increases since mid-2021, according to the Arizona Department of Insurance and Financial Institutions.

GEICO, Arizona’s largest private-passenger auto liability insurer, posted an 8% rate increase in November. Early this month, State Farm filed an

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