Mendota Heights, Minn., March 14, 2011 State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Minnesota and in the nation, is decreasing its overall rate level in Minnesota an average of 0.4 percent effective April 4, 2011. This represents an annual savings of $2.3 million to the companys Minnesota customers.
After this rate change is implemented, State Farms overall rate level in Minnesota will be 21.9 percent lower than it was nine years ago.
Premiums for the collision coverage are decreasing for most customers. The cost of the liability 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. The price of the personal injury protection coverage will go up for most customers.
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 five cars insured in Minnesota is insured by State Farm.
Ann Avery State Farm Insurance, (402) 327-4551
State Farm insures more cars and homes than any other insurer in the U.S., is the leading insurer of watercraft and is also a leading insurer in Canada. Our 17,800 agents and more than 66,000 employees serve 81 million policies and accounts more than 79 million auto, fire, life and health policies in the United States and Canada, and nearly 2 million bank accounts. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 34 on the Fortune 500 list of largest companies. For more information, please visit statefarm.com® or in Canada statefarm.ca®.