State Farm Auto restart Illinois Price Again
Thursday, Jun 04,2009, 10:45:29 AM Click:
By Bob Holliday, The Pantagraph, Bloomington, Illinois
Jun 3 - BLOOMINGTON - State Farm Mutual Automobile Insurance Co. will increase the rates of auto insurance in Illinois for the third time in less than a year.
Angie Rinock company said the spokesman for the customers who receive a renewal notice 29 June will be the first to see the increase, which will average 2.5 percent. The hike is expected to generate more than $ 40 million for the insurer, at an average cost to consumers was not available Tuesday.
The company also increased the rate of 3 per cent in August and 3.2 percent in December, she said. The latest increase brings the total increase of 8.7 percent.
The latest increase was necessary because the claims are more and more responsibility, Rinock said.
"The premiums for liability coverage are more and more. The cost of medical payments, collision and comprehensive coverage are not affected by this change of rate, "according to a press release State Farm.
The communiqué states that the premiums for all motorists may vary depending on factors such as coverage, discounts, where they live, the type of vehicle insured, who drives and how much.
Rinock advised motorists concerned about the increase to talk to their agent about their insurance needs. "A lot of people could benefit from discounts," she said, adding that motorists can increase their deductible to reduce their premiums.
Even with the last increase, State Farm said the overall rate Rinock of Illinois will be 17.1 percent lower than it was 14 years ago.
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To see more of the Pantagraph, or to subscribe to the press, go to http://www.pantagraph.com.
Copyright (c) 2009, The Pantagraph, Bloomington, Illinois
Distributed by McClatchy-Tribune Information Services.
For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968 or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
Jun 3 - BLOOMINGTON - State Farm Mutual Automobile Insurance Co. will increase the rates of auto insurance in Illinois for the third time in less than a year.
Angie Rinock company said the spokesman for the customers who receive a renewal notice 29 June will be the first to see the increase, which will average 2.5 percent. The hike is expected to generate more than $ 40 million for the insurer, at an average cost to consumers was not available Tuesday.
The company also increased the rate of 3 per cent in August and 3.2 percent in December, she said. The latest increase brings the total increase of 8.7 percent.
The latest increase was necessary because the claims are more and more responsibility, Rinock said.
"The premiums for liability coverage are more and more. The cost of medical payments, collision and comprehensive coverage are not affected by this change of rate, "according to a press release State Farm.
The communiqué states that the premiums for all motorists may vary depending on factors such as coverage, discounts, where they live, the type of vehicle insured, who drives and how much.
Rinock advised motorists concerned about the increase to talk to their agent about their insurance needs. "A lot of people could benefit from discounts," she said, adding that motorists can increase their deductible to reduce their premiums.
Even with the last increase, State Farm said the overall rate Rinock of Illinois will be 17.1 percent lower than it was 14 years ago.
-----
To see more of the Pantagraph, or to subscribe to the press, go to http://www.pantagraph.com.
Copyright (c) 2009, The Pantagraph, Bloomington, Illinois
Distributed by McClatchy-Tribune Information Services.
For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968 or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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