Dec. 16--BLOOMINGTON -- State Farm Insurance will raise car insurance rates in Illinois by an average of 2.6 percent in February, the company said Tuesday.
In papers filed Oct. 7 with the Illinois Department of Insurance, State Farm revised base rates for bodily injury, liability, property damage liability, medical payments, comprehensive, collision, uninsured motorists and emergency roadside service coverage.
More than 2.6 million policyholders will be affected.
"The reasons are due to an increase in frequency and the higher costs of repairing vehicles," State Farm spokeswoman Holly Anderson said.
The last rate increase for policyholders was a 0.9 percent increase last April. Increases were also approved in 2013 (3.2 percent) and 2014 (2.3 percent).
The 2.6 percent increase is an average increase across the state. The actual amount varies for each driver, depending on where they live, what kind of car they drive and who drives the car.
State Farm is the largest auto insurer in the state, insuring one of every three cars in Illinois. The new rates will go into effect Feb. 1.
Follow Kevin Barlow on Twitter: @pg_barlow.
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