State Farm filed for its second auto insurance rate increase in Illinois this year, adding $59 more per vehicle annually.
Traffic flows along I-90/94 northbound in Chicago on April 6, 2022. State Farm, Allstate and Progressive — the three largest auto insurers in Illinois — have all filed for rate increases this year, following the industrywide rate cuts and rebates that proliferated during the pandemic, where reduced driving lowered costs.State Farm recently filed for a 3% rate increase with the state’s Department of Insurance, set to take effect on June 13. Combined with a 4.
“Although miles driven, claim volume and severity have increased, State Farm auto rates in Illinois still remain below pre-COVID-19 levels with this latest rate adjustment,” Harrier said. With the latest increase, which went into effect Feb. 17, Allstate’s auto insurance rates are now above the pre-pandemic level.
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