Insurance rate changes at State Farm in Idaho going into effect today bring overall rates in the state down an average of 0.5 percent.
Overall rate levels are 16 percent lower than they were six years ago because of the rate adjustment, according to the insurer, which has about 20 percent of the auto insurance market in the state.
The changes impact liability, medical payments, comprehensive and collision forms of coverage. The overall rate decrease is on average, meaning the impact varies between policyholders.
Idaho residents seeking cheap auto insurance online or through an agent won’t be guaranteed to find lower rates, and the overall change might even mean an increase for some, according to the insurer.
That’s because premium levels also depend on personal rating factors used by the insurer, including the kind of car insured, annual mileage and where the driver lives.
Angela Thorpe, State Farm’s media representative for Idaho, said that the overall rate decrease could be linked to a “reflection of positive trends in the state.”
“Let’s say people are having less costly deer collision accidents, which are a problem in Idaho, or glass claims; that brings down the price of coverage in the state for the comprehensive coverage that covers those situations,” she said. “We’ve continued to see that the frequency of claims is still there, but the severity has indicated decrease. To me, that says safety.”
The changes mean a total savings of about $400,000 for Idaho policyholders, according to the insurer.
State Farm also instituted other rate changes that went into effect on Dec. 3. The following were announced as statewide averages:
–Alabama: increase of 3.4 percent
–Arizona: increase of .9 percent
–Colorado: increase of 1.1 percent effective Dec. 17
–Idaho: decrease of .5 percent
–Kansas: increase of 2.4 percent
–Michigan: increase of 2.8 percent
–New Mexico: increase of .9 percent
–Oklahoma: decrease of .3 percent
–Pennsylvania: increase of .8 percent
–South Dakota: increase of 3.4 percent
–Wisconsin: increase of 1.8 percent
To research how State Farm performs when handling claims, consumers can read user-submitted State Farm auto insurance reviews online.