State Farm has announced that it will be making changes to the deductibles in its homeowner insurance, and consumer advocates are concerned that this will decrease the amount that will be paid on consumers’ claims. The insurer also released a notice to insurance regulators in Texas, stating its intentions to increase homeowner insurance rates, starting in October, by an average of 9.6 percent. State farm is the largest insurer in the state. It also announced that, starting in December, it would be moving all of its current customers over to…
Read MoreTag: news on state farm
State Farm uses telematics to help drivers obtain better car insurance rates
State Farm has announced that it has partnered with Hughes Telematics Inc. in order to give its car insurance customers the opportunity to use an in-vehicle device so that they may lower their auto insurance rates. State Farm is calling the program In-Drive, and uses technology developed by the Atlanta-based telematics company to give its Illinois policy holders a chance to take part in the program starting in September. Other states may also be offered this program in 2012. The features of the technology are comparable to some of those…
Read MoreState Farm receives A.M. Best top ratings scores
State Farm General Insurance Company’s financial strength rating (FSR) and issuer credit rating (ICR) have been revised by A.M. Best Co., upgrading them from their previous “A-“ (Excellent) to a current “A” (Excellent), in both cases. State Farm Group and State Farm Life Group and their members have also received an FSR and ICR of “A++” (Superior) by Best. State Farm Fire and Casualty Company in Dallas, State Farm Indemnity Group, and State Farm International Life Insurance Company, Ltd, also had had their FSR and ICR affirmed by Best. All…
Read More