North Little Rock, AR – State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Arkansas, and in the nation, is raising its overall rate level for State Farm Mutual auto customers in the state an average of 2.2% effective August 25, 2014.
After this rate change is implemented, State Farm’s overall rate level in Arkansas will still be 4.9% lower than it was ten years ago.
Premiums for the liability, medical payments, and collision coverages are going up. The cost of the comprehensive coverage is decreasing. 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 year model and kind of car insured, who drives it and how much it is driven.
About one in every five cars insured in Arkansas is insured by State Farm.
About State Farm®
State Farm and its affiliates are the largest provider of car insurance in the U.S. In addition to providing auto insurance quotes, their 18,000 agents and more than 65,000 employees serve 82 million policies and accounts – nearly 80 million auto, home, life and commercial policies, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 41 on the 2014 Fortune 500 list of largest companies. For more information, please visit statefarm.com®.
SOURCE: State Farm