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Insurance rates expected to climb in Illinois

Published: Wednesday, Jan. 8, 2014 8:20 p.m. CDT

CHICAGO – Illinois drivers should get ready to pay more for insurance.

Crain's Chicago Business reports major insurers in Illinois are raising rates.

Northbrook-based Allstate says in a regulatory filing that rates for customers will climb between 2.5 and 3.5 percent later this month.

Esurance rates are rising about 3.2 percent in late January, while Geico expects to boost prices by 2 to 3 percent in March.

American Family Mutual Insurance Co. expects to boost rates about 2 percent in February.

Progressive will lower rates by 1 percent, although the decrease comes after the insurer hiked rates by 11 percent almost two years ago.

Bloomington-based State Farm Insurance says rates will hold steady. It raised rates 3 to 4 percent in September.

State Farm is Illinois' largest insurer, followed by Allstate.

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Information from: CRAIN'S CHICAGO BUSINESS.

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