Concordville, Pa., Nov. 28, 2011 - State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Pennsylvania and in the nation, is decreasing its overall rate level in Pennsylvania an average of 1.3 percent effective Dec. 26. This represents an annual savings of $16.5 million to the company's Pennsylvania customers.
After this rate change is implemented, State Farm's overall rate level in Pennsylvania will be 9.0 percent lower than it was seven and a half years ago.
Premiums for the collision coverage are decreasing the most, but could still go up for some customers. The cost of the liability, 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.
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 Pennsylvania is insured by State Farm.
Dave Phillips, State Farm Insurance at (610) 358-7667.
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 Farm's 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®.