Tempe, AZ., December 3, 2012 – State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Arizona and in the nation, is raising its overall rate level in Arizona an average of 0.9 percent effective December 3, 2012.
After this rate change is implemented, State Farm Mutual's overall rate level in Arizona will be 22 percent lower than it was 9 years ago. As part of this rate change, Arizona policyholders may be able to exercise even more control over how much they can save on their auto insurance with the Drive Safe and Save™ program.
The cost of the premium for collision coverage remains the same with this change, and the premium for medical payments coverage is reduced. The new overall rate will reflect an increase in the cost of coverage for bodily injury and an increase in the cost of comprehensive coverage. 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 six cars insured in Arizona is insured by State Farm.
Robert Villegas, State Farm Public Affairs (310) 294-0216.
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.
