Policyholders in Georgia with State Farm Mutual Automobile Insurance Co. can look forward to a decrease in their rates by an average of 2.2 percent starting on November 21, 2011. State Farm is the leading car insurance company in Georgia. It will be saving its customers in the state a total of $23.2 million per year. The Georgia Insurance and Safety Fire Commissioner’s office explained that the reduction in rates by State Farm are not the result of any state mandates. According to one of the commissioner’s spokespeople, the Georgia…
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Georgia insurance companies want to increase premiums
Though insurers in Georgia had already increased premiums for homeowners insurance by 9 to 23 percent last year, many are already making requests to obtain permission for another increase. The largest homeowner policy writer in Georgia, State Farm, is asking for an increase of 7 percent next year. According to state officials, this would be in addition to the 20 percent increase that it already put into place at the beginning of 2010. Similarly, the homeowner insurer that is the third largest in the state, Travelers Group, has filed its…
Read MoreGeorgian insurers to sell out of state policies beginning July 1
Beginning July 1st, insurers in Georgia will be able to sell health insurance policies available across state lines. Other states have been considering similar laws but Georgia is the first to pass such a law. The issue of inter-state insurance policies has been hotly debated for some time now. Critics of the law argue that it will put consumers at risk as most out of state insurance policies that will be up for sale will not meet the standard of Georgia’s strict regulations. On the other hand, supporters of the…
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