State Farm® Increases New York Auto Insurance Rates

Ballston Spa, N.Y., March  20, 2008 -- State Farm Mutual Automobile Insurance Company, the largest insurer of autos in the nation, is raising its overall rate level in New York an average of 3.5 percent effective April 14.

Even after this rate change is implemented, State Farm’s overall rate level in New York will still be 24.4 percent lower than it was four and a half years ago.

Premiums for the liability coverage are increasing the most.  The cost of the collision coverage is also going up.  The price of the personal injury protection and comprehensive coverages will go up for some and down for others.  The comprehensive coverage pays for losses from such perils as theft, storm damage, fire, vandalism and glass breakage. 

Overall premium changes for individual motorists will vary depending on factors such as the coverages they carry, the discounts for which they qualify, where they live, the kind of car insured, who drives it and how much it is driven.

About one in every 10 cars insured in New York is insured by State Farm.