State Farm Raising Rates
State Farm’s raising auto insurance rates next month. The average increase will be around two percent affecting Three million drivers in Texas.
The rate hike affects new customers and renewals as of August 16th. The increase for High-Risk drivers will be nearly seven percent.
The state’s Public Insurance Counsel’s filed objections to the increase saying the company hasn’t justified the new rates. State Farm says the increase addresses rising costs for injury claims.