while most of these changes are increases, some of them, such as State Farm, are a combination of smaller increases and decreases. This is an indication that the hike may not be as significant as many people think
Harvey, Illinois (PRWEB) October 24, 2012
The recent hikes in the car insurance rates in Illinois that were filed with the Illinois Department of Insurance by insurers operating in Illinois may not be the trend, Chicago based Insurance Navy says. While some companies filed for increasing their car insurance rates, other have not, or filed for auto insurance rate decreases. Actually some of insurers that raised their premiums in one segment of the market lowered their car insurance rates in other segments.
According to a September 2012 report published by the Illinois Department of Insurance |insurance.illinois.gov /RF3/2012/09/01privatepassengerauto.pdf| some companies filed single and double digit increases in their Form RF-3, for new auto policies, renewal policies, or both renewal and new policies for the next few months. The personal automobile rate changes apply to both liability and physical damage contracts.
Companies that reported premium changes included Allied Property and Casualty Company, Amco Insurance Company, American Alliance Insurance Company, Esurance Insurance Company, GMAC Insurance Online, Infinity Casualty Insurance and some of its affiliates, Mercury Insurance, Nationwide Insurance, and State Farm Insurance.
Ed Snenneh of Insurance Navy, a leading provider of auto insurance quotes in Chicago area said that "while most of these changes are increases, some of them, such as State Farm, are a combination of smaller increases and decreases. This is an indication that the hike may not be as significant as many people think."
Some insurers filed double digit increases. For example Mercury Insurance filed an increase of 12.6% in their liability insurance rates of private passengers vehicles for renewal policies effective 01-13-213. Big insurers such as State Farm Mutual Automobile Company filed rate changes from -0.7% to 2.0%, which will go in effect on 12/3/2012.
An independent broker of automobile insurance in Chicago InsuranceNavy is a key insurance producer. The agency represents several regional and local automobile insurers and provides online car insurance rates and car insurance quotes by phone. Insurance Navy provides its services to Illinois and Indiana residents by dozens of licensed agents located at several offices in Illinois.
Name: Ed Snenneh
Company: Insurance Navy
Address: 123 West 159th Street, Harvey, IL 60426
Phone: (708) 331-3232