Over the summer, the insurer issued decreases since people weren’t driving as much in the pandemic. Drivers in at least 8 states may see a State Farm car insurance rate increase, according to recent filings the insurer made with state regulators. These higher premiums will follow months of decreases due to reduced miles driven. Over the summer, State Farm cut its auto policy rates across many states in the US to reflect the lower risk of coverage due to the pandemic. When the COVID-19 crisis struck, lockdowns, workers staying at…
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State Farm car insurance claims fall by as much as 50 percent in some states
The largest auto insurer in the country has been reducing its rates in response to the trend. State Farm car insurance rates have been reducing across the country due to the trends relating to the COVID-19 pandemic. Some of the insurer’s latest data has made it clear why it has been willing and able to make these reductions. Since the pandemic crisis began, the number of miles driven by Americans has plummeted. As a result, there have been far fewer State Farm car insurance claims, meaning the coverage is more…
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