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Allstate’s auto insurance renewal rate is its worst in two decades

February 5, 2021

Things are not looking good with Allstate, which has posted its worst auto insurance customer retention numbers in two decades.

In 2020, the company’s auto policy renewals were 87.5%, down from 88% in 2019. It was Allstate’s worst policy renewal rate since at least 2001, investor disclosures noted.

Moreover, Allstate’s earnings data revealed that there was also a 0.5% decline in policies at year-end, to 21.8 million. The insurer’s renewal ratio in 2020 was 78.2% – its worst quarterly attrition in at least eight years.

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