Salem, Oregon, September 23, 2011 State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Oregon and in the nation, is increasing its overall rate level in Oregon an average of 3.8 percent effective October 24.
Even after this rate change is implemented, State Farm's overall rate level in Oregon will be 7.9 percent lower than it was seven and a half years ago.
State Farm's auto insurance rates are based on projected costs and reflect trends in the number of claims and the cost of paying them. The rising cost of medical care in Oregon has impacted this rate change. Premiums for the liability and personal injury protection coverages are increasing. The cost of the collision 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. Customers are encouraged to contact their agent for more information regarding discounts.
About one in every five cars insured in Oregon is insured by State Farm.