North Little Rock, AR (December 21, 2012)
State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Arkansas, and in the nation, is raising its overall rate level in the state an average of 1.5 percent effective January 21, 2013.
After this rate change is implemented, State Farm's overall rate level in Arkansas will still be 4.3 percent lower than it was eight years ago.
Premiums for liability, medical payments, and comprehensive coverages are increasing slightly, while the cost of collision coverage is decreasing. 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 and age of the car insured, who drives it, and how much it is driven.
As part of this rate change, Arkansas policyholders may be able to exercise even more control over how much they can save on their auto insurance with State Farm's Drive Safe and Save™ program, in which discounts are earned based on amount of claim-free miles driven.
About one in every five cars insured in Arkansas is insured by State Farm.
Gary Stephenson, Arkansas Media Contact, (501) 615-6004
State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 17,800 agents and more than 65,000 employees serve 81 million policies and accounts - more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 43 on the Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com or in Canada http://www.statefarm.ca.