Columbia, S.C., July 15, 2011 – State Farm Mutual Automobile Insurance Company, the largest insurer of autos in South Carolina and in the nation, is raising its overall rate level in South Carolina an average of 3.7 percent effective August 15.
Even after this rate change is implemented, State Farm's overall rates in South Carolina will be 6.4 percent lower than they were eight and a half years ago.
Premiums for the liability and comprehensive coverages are going up. The comprehensive coverage pays for losses from such perils as theft, storm damage, fire, vandalism and glass breakage. The cost of the personal injury protection coverage will go up for some and down for others. The price of the collision coverage will go down for most customers.
Overall premium changes for individual customers 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 four cars insured in South Carolina is insured by State Farm.
Bruce White, State Farm Insurance, (803) 935-3714.
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®.