The Corey Story

My random wanderings and things I find entertaining

State Farm has filed a rate increase of 4.9% effective 1/1/10

Posted by Corey Kaster on December 22, 2009

The changes will be effective January 1, 2010 for new and renewal business. Their overall indicated rate level need is an increase of 4.9%.

Changes by Company are:

State Farm Mutual Auto Insurance Company 2.1% ($7,468,387)

State Farm Fire & Casualty Insurance Company 2.4% ($703,479)

Summary of the changes by coverage are:

Mutual             F&C

BIPD/PIP               4.0%              4.0%

Comprehensive  0.0%             0.0%

Collision                0.0%             0.0%

Miscallenous        0.3%             0.1%

Total                       2.1%              2.4%

Notable changes include:

  • Revised Base Rates
  • Revised BIPD and PIP limit factors

In addition, State Farm also revised the following:

• Revised base rates for:

  • Antiques: 1.5%
  • Classics: 1.3%
  • Motor Homes: 1.0%

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