Smart Auto Insurance Blog

The agricultural risk management company, Acceptance Insurance, offers insurance products and provides property and casualty insurance as well. 

Acceptance Insurance provides insurance under two insurance company subsidiaries called American Growers Insurance Company and Acceptance Insurance Company.  AGIC provided insurance products before stopping operations back in 2002.  The District Court of Lancaster County, Nebraska placed AGIC into rehabilitation December, 2002.

Acceptance’s only operation remaining is AIC which is under administrative supervision.  They continue to control the run off of discontinued and sold companies.  Because of drought and inadequate growing conditions, AI also divested American Agrisurance which is its crop insurance business.  AIC sold its property and casualty operations to Hannover Re and McM.

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.