Tempe, AZ., December 3, 2012 – State Farm Mutual Automobile Insurance Company, the largest insurer of autos in New Mexico and in the nation, is raising its overall rate level in New Mexico an average of 0.3 percent effective December 3, 2012.
After this rate change is implemented, State Farm Mutual's overall rate level in New Mexico will be 6.4 percent lower than it was 6 years ago. As part of this rate change, New Mexico 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 premiums for collision and comprehensive coverages will decrease with this rate change. Some policy holders will see increases while other will see decreases for medical payments coverage. The new rate reflects an increase in the cost of coverage for bodily injury and property damage liability.
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.
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.
