North Haven, Ct., April 22, 2011 - State Farm Mutual Automobile Insurance Company, the largest insurer of autos in the nation, is increasing its overall rate level in Connecticut an average of 2.8 percent effective May 23.
Even after this rate change is implemented, State Farm's overall rate level in Connecticut will be 1.5 percent lower than it was eight years ago.
Premiums for the liability coverage are increasing. The price of the medical payments 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 collision coverage will go down 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.
Victoria Hodson, State Farm Public Affairs, (860) 284-6829.
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. State Farms 17,700 agents and 68,600 employees serve 81 million policies and accounts more than 78.7 million auto, fire, life and health policies in the United States and Canada, and more than 1.9 million bank accounts. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 31 on the Fortune 500 list of largest companies. For more information, please visit statefarm.com® or in Canada statefarm.ca®.