Posted by John Coyle on Mon, Jul 26, 2010
RE: Dallas Morning News July 2010
State Farm is raising auto insurance rates an average 2 percent next month (Aug 2010) for nearly 3 million drivers it insures in Texas, citing raising medical costs as the primary factor.
State Farm County Mutual, another subsidiary that primarily insures higher-risk drivers, will increase rates an average 6.8 percent in August (2010).
Kevin Davis, a spokesman for State Farm, said the increase was filed "primarily to address rising cost associated with bodily injury liability claims, such as medical cost."
Deeia Beck, whose office represents Texas Insurance Consumers, filed objectionsto the rate hike. Beck, in her letter of objections, noted that "this is the company's third rate increase in a two-year period of stable or declining auto insurance loss costs." "The filing would, if implemented, produce rates that are excessive, unreasonable and unfairly discriminatory."
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John Coyle of Tri-Star Insurance Professionals of Plano said of the recent Dallas Morning News artical, "With the economy today, it is important for consumers to review thier current policies and seek help from an independent agent who can show them offereings from several insurance companies." Independent agents work for the consumer not the insurance company. If rising insurance rates are affecting your budget, it's a good time to look at alternatives. You'll be surprised at what the independent agencies like Tri-Star Insurance can find for you. Call Tri-Star at 214-387-0600 or go online for quotes www.tristarins.com
