Auto rates to rebound for State Farm policyholders

Posted on February 19, 2021

*The rate increase takes effect March 29. (Photo courtesy: WJBC/File)*

By Heart of Illinois ABC

BLOOMINGTON – State Farm is raising auto insurance rates an average 4.2% starting next month for Illinois policyholders, signaling motorists are driving more despite the ongoing pandemic.

The company headquartered in Bloomington said rates remain below pre-COVID-19 levels, but there’s been an increase in miles driven and claim volume.

Last June, State Farm slashed rates an average 13.7% because so many people were staying home during the initial stages of the pandemic.

“Our approach remains the same – to make incremental adjustments based on driving behaviors to ensure the rates we have in place reflect anticipated driving and claim volume, and to minimize the impact to customers as much as possible,” said State Farm spokesperson Angie Harrier in a prepared statement.

The rate increase takes effect March 29.

The company said one-in-three cars in Illinois, or 2.9 million vehicles, are insured by State Farm.

Heart of Illinois ABC can be reached at [email protected].

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