Tuesday, February 19, 2019

Car Insurance Rates to Decrease

Insurance Commissioner Mike Chaney issued the following statement. 


Mississippi Insurance Commissioner Mike Chaney announced Tuesday, February 19th that he has approved an 11.2 percent decrease in rates for State Farm automobile insurance consumers.


“This rate decrease is good news for consumers in our state,” said Commissioner Chaney. “Competition and market share have turned around proposed rate increases by many companies, including State Farm.  Additionally, new technology used in automobiles and in driver education by insurance companies has driven down prices for consumers.”

Some consumers have already seen a rate decrease of 7.6 percent. The remaining decrease will take effect in the coming months, for a total 11.2 percent decrease.  The Mississippi Insurance Department expects other companies to follow State Farm’s lead. 

13 comments:

Anonymous said...

ill believe that when i see it

Anonymous said...

Homeowner rates will go up or auto and home deductibles will go up, take a guess.

Anonymous said...

I guess Chaney is in the advertising business for some companies. Last week it was the poultry insurer he was promoting. Now its snake farm. Every auto insurance company in the nation is losing their ass on auto. Snake Farm has been dropping long time customers over trivial accidents at their discretion, only having one on their record. Now all of a sudden they are having a rate decrease? Bovine Scatology! They are making a market/money grab to try and generate some income. For the most part just about every auto insurer is posting greater than 100% loss ratios. Snake Farm is no different.

Snake Farm customers, how do you all like the percentage home deductibles they snuck in there? They are snakes in the grass.

Anonymous said...

Is AG Hood still suing State Farm for the body shops, I mean for skimping on repairs of their customers' vehicles? So one State office is suing them while another lauds their rate setting prowess in the same line of business the suit aims correct.

Anonymous said...

Hood is Moseley's puppet. That's a sham that should be investigated by the FBI, and actually might be, but that's another story.

In other news, in 2017 State Farm reported $6.5 billion in underwriting losses in 2017. $2.8 billion was auto. $5.5 billion in 2016.

Anonymous said...

State Farm Insurance rates are so damn high to begin with that even with the decrease I expect them to be non competitive.

If you don't shop for insurance on an annual rates you are probably getting screwed.

You may think you are a SF customer if you purchase insurance from them but the fact of the matter is that their customer is their shareholders. Plain and simple.

Anonymous said...

If you could stop the commercials these attorneys run where they show a smiling healthy person state "I injured my feelings in an auto wreck on Monday and XYZ attorney had a check for $625,000 by Friday" that would go a long way to reducing insurance rates.

Anonymous said...

State Farm is lowering auto insurance rates nationwide. My guess would be they are losing a lot of customers to other companies so they are trying to be competitive.

The Gecko said...

Say mate, I can save you 15% in 15 minutes. All you have to do mate is tell me how much you are currently paying for insurance; now don't lie to me mate because I'm privy to the CLUE database and know exactly how much you pay in insurance already! Ok, so 15% is a stretch, but I can probably save you 10%. For the first year. Then I'll jack you up 20% quicker than a black mamba in year 2! Oh you'll go shopping alright at that point but guess what mate, you've only got a 2 year history with us and it's going to cost you even more to change up. You'll be coming back to us like a homesick Joey, mate!

Anonymous said...

@4:19 State Farm doesn’t have shareholders because they are a mutual company. so yeah, their policyholders are the closest thing they have to shareholders. Your other point about shopping every year is just as misinformed, but you do you Scotty P....no ragrets.

Anonymous said...

to 4:21pm........so lets ban all commercials and we will have a perfect world huh? what insurance company do you work for? dont like free speech? i got you a free one way ticket to a country that does not allow free speech. when can you come pick it up? just what until some little punk ass mellineal ,who is busy text messaging, freight trains you from behind at 50 mph and then we will see what tune you sing.

Anonymous said...

@7:21- I guess there really is no excuse then for the outrageous premiums State Farm charges. Shop around.

Anonymous said...

To the mate at 6:50, a clue report does not tell you what premium someone pays. It only reports accidents, tickets, and policy limits. G'day, mate.

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This is definitely a Beaver production.


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If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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