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Home insurance rates jump

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High Five
Friday, September 04, 2009

As a result of higher construction costs and an increase in disaster claims, home insurance rates for some Oregon homeowners are spiking.

Allstate Insurance Co. boosted rates 27 percent, on average, as of last month. Allstate Property & Casualty Insurance Co., a related firm, increased rates by an average of 30 percent, according to the Oregon Insurance Division. The two Allstate companies command six percent of the marketplace, state officials say...

Allstate's big jump was triggered by high-dollar claims from storms and wildfires in the Northwest over the past two years, company spokeswoman Megan Brunet said.

Read the full story at OregonLive.com.

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