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Allstate: Price Elasticity Of Demand

Allstate: Price Elasticity Of Demand

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Being currently employed by Allstate, price elasticity of demand for their product is greatly affected for numerous reasons. Further, Allstate currently offers the following products that can be purchased by a consumer: life insurance, auto insurance, home insurance, powers sports insurance, and renters insurance. More importantly, the prices of these products are greatly affected by Allstate’s claim experience and fluctuations often happen.

Currently, Allstate’s auto insurance rates are much higher than the competition due to atrocious claim experience with distracted drivers and more people being on the highways. Further, with consumers having cheaper substitute options from other insurance companies, it has definitely had an effect

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