Effingham, IL-(Vandalia Radio)- While your car sat idle in the garage during the pandemic, a consumer group says Illinois insurance companies reaped the benefits. According to an analysis by Illinois PIRG Education Fund, the four largest carriers in the state, State Farm, Geico, Progressive and Allstate, charged customers $280 million dollars more than needed to maintain their 2019 profitability.
That is PIRG state director Abe Scarr, who says insurance companies should issue more rebates to consumers or reduce premiums. Steve Schneider with the America Property Casualty Insurance Association says providing premium reductions when the number of crashes are increasing would be unwise.
Insurers across the country are expected to increase rates by an average of about 4.9 percent this year.
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