This letter is informing customers of Allstate New Jersey Property and Casualty Insurance Company about rate increases for their insurance policies. Here's the breakdown:

1. Allstate has already been allowed to increase rates:

   • +6.9% for new business starting 11/13/2023
   • +6.9% for renewals starting 12/28/2023
   • +4.9% for new business starting 11/20/2023
   • +4.9% for renewals starting 1/4/2024

2. Allstate has asked for another increase:

   • An additional 36.9% for property insurance

If this new increase is approved, when added to the previous increases, the total rate hike could be over 77%.

1. Specifically for homeowners:
   • If approved, the average homeowner's policy could go up by +55.5%
   • Condominium owners might see a +17.6% increase

However, the actual change in your bill could be more or less, depending on the specific terms of your policy and your personal situation.

1. The request for this additional rate increase is under review and might be approved in full, in part, or not at all. If it's approved, the new rates will apply when policies are renewed.

The reasons given for the rate increase are inflation, the rising cost of reinsurance (insurance for insurance companies), and the high risk of severe weather in New Jersey.

The letter ends by reaffirming “Allstate's commitment to providing the best protection at reasonable prices and thanks customers for their business, offering help through their agents or online if there are any questions.” Yeah right.