Iowa auto insurance consumers are in for some price increases. According to the article “State Farm to Increase Iowa Auto Insurance Rates” by Karen Mracek on desmoinesregister.com, State Farm Auto Insurance is raising some prices in the state by an average of 2.2% by July 27.
Auto insurance rates for comprehensive coverage and collision are increasing the most and the cost of liability is also going up. The cost of medical payments will be remaining the same for most customers. The premium changes will vary from customer to customer based on what kind of policy they have, where they live and the type of car they insure.
State Farm is the largest insurer in Iowa, insuring about 1 out of every 5 cars on the road. The increases are caused by the influx of claims over the year, but even after this increase State Farm’s overall rates are still much lower than they were 5 years ago by over 12%. State Farm is still committed to keeping prices reasonable for their customers.