State Farm Car Insurance Rates to Rise for Delaware Policyholders

State Farm logoState Farm announced on Friday that it will be bumping up Delaware auto insurance rates by an average of 1.9 percent starting on Feb. 27.

The second-largest car insurer in the First State said the overall changes for individual policyholders will depend on the discounts they qualify for, the coverages they carry and a number of other factors.

Liability and personal injury protection (PIP) premiums look to be increased across the board, while “the cost of the collision and comprehensive coverages will go up for some and down for others,” according to a release from the company.

The latest data from the National Association of Insurance Commissioners showed that the average size of PIP and property damage liability claims filed by Delaware policyholders increased between 2006 and 2008. During that period, the size of the average PIP claim rose 10 percent, while the size of the average property damage liability claim rose about 4.5 percent.

In the announcement regarding the upcoming increase, the automobile insurance company said that it would be raising rates “to ensure it can fulfill the promises it has made to its customers.”

According to the most recent data made available by Delaware regulators, State Farm has a 22 percent share of the state’s car coverage market.

The only company with a larger share is Nationwide.

Other Recent State Farm Premium Updates

State Farm has announced a handful of statewide premium increases and decreases in recent months. Among them are the following:

  • Michigan — 2.1 percent average increase as of Jan. 23
  • Wisconsin — 2.6 percent average increase as of Jan. 16
  • Illinois — 2 percent average decrease as of Dec. 26
  • Alabama — 2 percent average decrease as of Nov. 21
  • Georgia — 2.2 percent average decrease as of Nov. 21

To research how State Farm performs when handling claims, consumers can read user-submitted State Farm auto insurance reviews online.

About John Pirro
John Pirro is a licensed fire and casualty insurance agent specializing in various aspects of the auto insurance industry. He worked in the auto body repair industry before taking a reporting position at Online Auto Insurance News.

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