Saturday, September 12, 2009

State Farm won't raise rates for most Mobile and Baldwin homeowners - al.com

State Farm won't raise rates for most Mobile and Baldwin homeowners - al.com: "State Farm Fire and Casualty Co. will not raise insurance rates on most homeowners in Mobile and Baldwin counties, even though the state Insurance Department says it approved rate increases ranging from 0.6 percent to 6 percent locally for the state's largest property insurer.

'For the sake of getting the approval in the upper part of Alabama, we agreed not to do anything in the lower part of Alabama,' said David Majors, a spokesman for the Bloomington, Ill., insurance giant.

In the rest of Alabama, State Farm is raising rates 19.1 percent on average. The change takes effect Nov. 1 for new business and Jan. 1 for existing customers of the company, which controls 28.2 percent of the state homeowners market."