Illinois residents are not happy with the auto insurance company, State Farm, right now. They have yet again raised their rates. Just last year State Farm raised the prices for auto insurance twice during 2016. Now, the nation’s biggest auto insurance company is expected to bring up their prices by an average of 2.2 percent. This hike will affect millions of people within the state of Illinois.
A spokeswoman from Bloomington, Illinois that works for State Farm Missy Dundov says the state of Illinois keeps raising claim cost for auto drivers and they have been doing it for almost a decade. She then explains that when the state of Illinois raises claim cost, car insurance companies are have to raise the state’s rates. Doing so covers expected claim costs for their drivers.
Illinois Drivers Not Looking Forward To New Car Insurance Hike
Drivers in the state should expect their auto insurance prices to go up on September 4th of 2017. With the raise in effect, the price increase on car insurance will reflect trends all across the nation, according to Dundov. Missy Dundov he goes on to say there are other reasons for the sudden increase in auto insurance price. For example, higher repair cost on vehicles, expensive vehicles, more people driving on the roads, more distractions while driving and many more reasons.
Missy Dundov reminds us that State Farm insurance company is one of the largest in the state of Illinois. They insure one out of three drivers throughout the whole state. Even so, State Farm raised driver collision protection rates by 2.7 percent in February and 5.9 percent in October. The October hike, which happened on Halloween, was the biggest by State Farm in over ten years.
Northbrook-based Allstate last rallied for a rate increase on Illinois drivers in January 2017. The 5.9 percent increase affected almost 317,000 drivers in the state. Allstate has no quick intentions to expand auto rates in within the state. Organization representative Meghan Sporleder said this to reporters on Thursday, July 6th, 2017.