State Farm Seeks Rate Hike

By: The Associated Press
By: The Associated Press

State Farm spokesman David Majors told The Clarion-Ledger that details are still being worked out for a rate hike request.

Last year, State Farm boosted rates by an average of 19.5 percent in Mississippi's three coastal counties: Harrison, Hancock and Jackson. The company was seeking a 45 percent increase.

Chaney said he won't approve it or any other proposed rate hikes until at least a year after a company's last increase took effect and won't approve any hikes during hurricane season, which runs June 1 through Nov. 30.

Chaney said he will look over whatever State Farm requests to see if it is reasonable.

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  • by voeter Location: meridian on May 25, 2010 at 10:24 AM
    Mr. Chaney needs to stand his ground against these insurance companys. They want to increase rates but deny people when they have a claim (remember catrina and how state farm did the people?) You can not trust state farm.
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