Allstate Insurance Co. of Canada will reduce auto insurance rates in Nova Scotia on average by 12% in 2007.

“Every Allstate policyholder in Nova Scotia with full coverage will see their premiums go down in 2007,” said Christianne Dostie, vp of Allstate, in a news release. “Allstate is committed to offering a high-quality insurance product at the most affordable and appropriate price along with exceptional customer service in a stable and thriving insurance market in Nova Scotia.”

Allstate policyholders can expect a reduction of on average 12%. The total amount each individual will receive will differ based on coverage, experience, driving record and geographic location. In addition, young drivers and drivers licensed less than nine years in Nova Scotia will also see their rates drop between 20% and 50% depending on experience.

Allstate has also reintroduced a Group discount of 15% that is available to a group of employees of the same employer (may include retired employees) or a group of persons that would be part of a labour union, a professional or occupational association, an alumni association, or a non-profit organization. Spouses, common-law partners, children under 25 residing in the same dwelling or attends an educational institution on a full-time basis are also eligible for the discount.

“The reforms introduced by the Conservative government in 2003 have helped stabilize the marketplace which has resulted in lower premiums for the people of Nova Scotia,” Dostie said. “The recent announcement by Finance Minister Baker to streamline the approvals process is excellent news for consumers and ensures that rate reductions will hit the street much quicker.”