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RateWatch: State Farm Asks for Higher Rates in Florida

State Farm Insurance, the third-largest property insurer in the state of Florida, has asked for an average statewide increase of 14.9% on insured homes there, as part of a plan to maintain a good fiscal status while restructuring the discounts and deductibles it currently offers. According to State Farm’s representatives, the rate request includes average […]

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Texas Nixes State Farm’s Catastrophe Request

State Farm Insurance’s catastrophe determination petition, made in response to wildfires that have been charring much of the state all month, has been denied by the Texas Department of Insurance. According to the insurance department, the denial was based on information provided in the September 12 request made by State Farm, in which the insurance […]

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State Farm Requesting Changes on Texas Homeowners Coverage

Stae Farm Insurance filed a notice requesting a rate hike averaging 10 percent across the state in Texas homeowners insurance rates, but company officials were quick to announce that with new and larger discounts, homeowners are likely to see effective increases of only 1.4 percent. Earlier this week, the Dallas Morning News also reported another […]

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State Farm, Allstate Offering Benefits to Same-Sex Partners

Last week, State Farm insurance announced a significant change in their corporate policy. The company will be extending health care coverage and other benefits to the same-sex partners of its agents, agency staff members, employees, and retirees, so long as they’re in legally recognized relationships. Such benefits are already offered to employees and their partners […]

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State Farm Closing Offices to Save Money

According to the Pantagraph newspaper out of Bloomington, IL, State Farm Insurance has announced plans to close two dozen of its field offices in the midwest (Illinois, Indiana, and Michigan) in order to save $8 million over the next five years. Currently, these facilities are home to about 1,300 employees. Some of these employees, the […]

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Rate Watch: State Farm Requests 27.7% Rate Hike in Florida

The Florida Office of Insurance Regulation will be holding a public hearing on February 15th. Why? To discuss the latest rate filing from State Farm, which company is requesting an average increase of 27.7 percent statewide in homeowners insurance rates. The reason, they say, is to offset the rising costs of sinkhole claims. The request […]

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State Farm Excels at Consumer Satisfaction

It should be no surprise that our current unstable economy has affected everything from the amount of merchandise on store shelves to the number of people taking vacations, but what may be surprising is that the adverse effects are extended to the quality of service we receive from providers in many different industries. Such quality […]

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