If you've held an Allstate policy in California anytime from mid-2016 to late 2022, your mailbox might just have a surprise waiting for you. Allstate Insurance has agreed to a $25 million settlement, a chunk of change aimed at resolving claims that have stirred up quite the debate about how they've been calculating premiums.
Let's break it down. We're talking about current and former Golden State residents who held specific Allstate policies. If Allstate calculated your premiums using their chosen rating factor between July 1, 2016, and September 30, 2022, you might just be in for a piece of the pie. But it's not for every Tom, Dick, and Harry—this settlement zeroes in on primary policyholders with a particular set of criteria:
Those who had a renter’s policy in addition to their auto policy are not included in this settlement.
The class action took issue with how Allstate was setting premium rates, suggesting they were using market factors rather than those approved by the insurance commissioner. The plaintiffs argued that this led to higher premiums than what would have been had Allstate stuck to the approved factors that actually relate to the risk of losses.
Allstate hasn't admitted any wrongdoing. But they're ready to hand over $25 million to put this lawsuit in the rearview mirror.
Expected share per class member: Around $12.40, give or take, depending on how many folks come forward.
No claim form needed: If you qualify, you'll get your share automatically—either by check if you're no longer with Allstate, or as a credit if you're still in the Allstate family.
Important dates: Mark April 9, 2024, on your calendar if you want to exclude yourself or throw in an objection. May 22, 2024, is when the final approval hearing is set to go down.
If you're a current or former Allstate policyholder in California with premiums calculated on Allstate's select rating factor from July 1, 2016, to September 30, 2022, you might be eligible. Just remember, specifics matter here, especially regarding the type of coverage and additional policies.
For the full scoop, you can visit the settlement website at: AllstateCaliforniaAutoRatingSettlement.com.
Remember, it's important to verify your eligibility before counting on a settlement share. Filing a claim inaccurately can harm the outcome for others who are eligible. Check the details carefully and consider reaching out to the claims administrator with any questions. Injury Claims is not a settlement administrator.
Injury Claims keeps you informed about lawsuits large and small that could affect your daily life. We simplify the complexities of class actions lawsuits, open class action settlements, mass torts, and individual cases to ensure you understand how these legal matters could impact your rights and interests.
If you think a recent legal case might affect you, action is required. Select a class action lawsuit or class action settlement, share your details, and connect with a qualified attorney who will explain your legal options and assist in pursuing any compensation due. Take the first step now to secure your rights.