The Corey Story

My random wanderings and things I find entertaining

State Farm filed for rate increase of 9.3% for their Homeowners program in Oregon

Posted by Corey Kaster on August 13, 2009

State Farm Fire & Casualty Company has filed for rate increase for their Homeowners program in Oregon. The changes are effective  July 15, 2009 for
new and September 1, 2009 for renewal business.    Their overall indicated
rate level need is an increase of 9.3% .  The overall impact of this filing is a 5.3% increase or $6,423,381 in annual premium.  Their last general rate change was a 1.4% increase on July 15, 2008.

The changes by policy form are summarized below:
(Embedded image moved to file: pic15953.jpg)

Notable changes include:
• Revised base for all forms.
• Medical limits of $4,000 is no longer available for new business and Medical Limit of $10,000 is now available for new business.
• Revised Deductible factors
• The Zone and Subzone Definition manual pages have been updated to reflect ZIP Code boundary changes and expired ZIP Codes • Revised Back-up of Sewer and Drains premium • Revised Utilities Rating Plan discounts • Revised Loss Assessment rates for Condo • Revised Construction factors

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