By HOI ABC
BLOOMINGTON – Auto rates are increasing for State Farm customers in Illinois by 5%, but the company says it’s still below pre-pandemic levels.
Back in June 2020, the insurance giant cut auto rates by nearly 14%. The company says the increase is driven partly due to the rise of labor and materials costs and supply chain-related issues.
“We are continuously monitoring and adjusting to trends to make sure we’re accurately matching price to risk,” the company said in a release. “Our approach is to make incremental adjustments based on driving behaviors to help minimize the impact to customers.”
