Plano Auto Insurance: State Farm Rates Go Up

This is crazy to think that rates in less than 10 months could go up by 30-40%

clipped from www.clementsinsurancegroup.com Texas Auto Insurance: State Farm Rate Increases State Farm, in its filings with the state, raised rates an average of 8.8 percent in the fall and 4.5 percent in the spring, with the second increase taking effect May 1 for new business and June 1 for renewals. Under state law, insurers are allowed to implement increases while Texas regulators review them; the state has not issued its position on State Farm’s rate filings. State Farm’s increases in North Texas and Tarrant County, already known for higher storm-related losses, are significantly steeper than its premium increases in some other parts of the state. In one typical scenario in Fort Worth, the Texas Department of Insurance estimates that State Farm homeowners insurance policyholders who enjoy discounts for having multiple policies with the company could see their annual premium rise 31 percent after the two rate increases.