Iowa, Oct. 12, 2012 – State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Iowa and in the nation, is raising its overall rate level in Iowa an average of 0.1 percent effective November 5. After this rate change is implemented, State Farm's overall rate level in Iowa will be 12 percent lower than it was eight years ago.
Premiums for bodily injury and property damage coverages are going down, as are those for collision coverage. The cost of the medical payments and comprehensive coverages are going up. 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 Iowa is insured by State Farm.
Ann Avery, Public Affairs Specialist, (402) 327-4551.
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.