Charlottesville, VA (May 3, 2013) State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Virginia and in the nation, is raising its overall rate level in Virginia an average of 2.5 percent, effective June 3.
After this rate change is implemented, State Farm's overall rate level in Virginia will be 1 percent lower than it was nine years ago.
Premiums for Comprehensive coverage and Income Loss Benefits will go down. Liability, Medical Expense and Collision coverage will go up for most customers. Comprehensive coverage pays for losses from such perils as theft, storm damage, fire, vandalism and glass breakage.
Virginia customers now have more control over how much they can save on their auto insurance with the Drive Safe and Save program.
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.
State Farm insures about one in every six cars insured in Virginia.
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.