Charlottesville, Va., Dec. 21, 2012 State Farm Mutual Automobile Insurance Company, the largest insurer of autos in West Virginia and in the nation, is raising its overall rate level in West Virginia an average of 0.3 percent, effective Jan. 21, 2013.
After this rate change is implemented, State Farm's overall rate level in West Virginia will still be 15 percent lower than it was 9 years ago. Significant insurance reforms in 2004 and 2005 aided the decrease in rates.
Premiums for collision and comprehensive coverages are going down. Liability and medical payments coverages are going up. Comprehensive coverage pays for losses from such perils as theft, storm damage, fire, vandalism and glass breakage.
West Virginia policyholders may be able to have more control over how much they can save on their auto insurance with the Drive Safe and Save program, which becomes available in the state on Jan. 21, 2013.
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.
State Farm insures about one in every four cars insured in West Virginia.
Amy Preddy, State Farm Public Affairs, (434) 872-5211
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.