Live Insurance News

State Farm 2025 California Auto Insurance Rate Hike Affecting Millions

December 10, 2024December 9, 2024 Angela Linders

State Farm, California’s largest auto insurer, has received approval to increase its auto insurance rates beginning in January 2025. This marks the second consecutive year of double-digit rate hikes for the company, following a 21% increase implemented earlier this year. The upcoming adjustment, averaging 17.7%, will affect approximately 4 million policyholders across the state. The increase aligns with broader trends in the auto insurance industry, both in California and nationwide, as companies grapple with rising claims, vehicle repair costs, and inflationary pressures. Factors Driving State Farm Auto Insurance Rate Hike…

Louisiana gives State Farm the green light to raise auto insurance rates

August 11, 2023August 10, 2023 Logan B.

Auto insurance rates - Green light - Louisiana

Drivers in the state are already facing high premiums for their homeowners coverage. Homeowners have already been watching their premiums rise in Louisiana, and now drivers can expect that their auto insurance rates will be rising there as well. State Farm recently requested a hike of 17 percent in the state, and it now has its approval. Drivers are starting to wonder how they will be able to afford their auto insurance rates following hikes that have already been applied to their home coverage. “It’s not nice to be a…

State Farm issues tips for Teen Driver Awareness Month

January 30, 2023January 27, 2023 H. Cutner

Teen Driver Awareness Month - Teen in car with car keys

This January, the insurer is reminding parents that setting a good example can make a difference. State Farm is honoring January as Teen Driver Awareness Month by reminding parents that setting a good example can make a difference to their teen’s driving habits and yes, they will get through this. Parental driving habits are the top influence on the behaviors of new young drivers. Teen Driver Awareness Month data from the National Highway Traffic Safety Administration shows that the driving habits of a young driver’s parents are the top influence…

State Farm auto insurance claims show catalytic converter thefts continue rising

October 6, 2022October 5, 2022 Nordstrom

Auto insurance claims - Person under car

The insurer recently issued a release pointing to a 400 percent rise in these thefts since 2019. State Farm has released an update to a previous report it has made regarding recent trends in auto insurance claims having to do with catalytic converter thefts. The trend, though already bad in the last report, has only managed to worsen across the country. The auto insurance claims data from one of the largest car insurers in the country showed that from July 2021 to June 2022, thefts in catalytic converters rose by…

State Farm Insurance Companies announce their 2021 financial results

March 2, 2022March 1, 2022 G. Turner

The insurers experienced record growth in home, auto and life policies last year. Last year, State Farm Insurance Companies brought in record growth in their home, auto, and life policies. In 2021, the insurer experienced record level growth in its auto business but earned premium dropped. Even though State Farm Insurance Companies experienced record growth in auto policies, it saw a year-over-year drop in its earned premium in that category. The falling auto premium is a continuation of the impact of its focus on bringing value back to customers in…

State Farm teams up with Ford for usage-based insurance

February 25, 2022February 23, 2022 Live Insurance News

The Drive Safe & Save Connected Car program will use telematics tech to adjust premiums. State Farm and Ford have announced that they have jointly launched a usage based insurance (UBI) program for drivers called the Drive Safe & Save Connected Car. The UBI program is available to drivers of connected Ford or Lincoln vehicles. State Farm customers driving the eligible connected Ford vehicles can choose to opt in for usage based insurance. The UBI program uses telematics to adjust premiums to reflect that vehicle’s mileage and its drivers’ unique…

State Farm aims to improve the use of child safety seats and seatbelts

November 1, 2021October 29, 2021 Marc

Child safety seats - Child in safety seat

Nearly three quarters of babies and kids aren’t traveling with the appropriate restraints. State Farm has issued an insurance news release pointing out that most child safety seats are not being properly used and that seatbelts are still not being worn enough despite the fact that they save lives. The insurance company was pointing to Safe Kids Worldwide data about auto restraints for kids. That data showed that 73 percent of child safety seats and boosters aren’t correctly used in at least one – but often several – ways. Moreover,…