State Farm Cites Smart Cars for Rate Spikes
Dec. 29, 2016—According to a recent Chicago Tribune article, State Farm is blaming smart-car technology for its recent 5.9 percent increase in Illinois for auto insurance rates.
The rate increase is the biggest since 2003, when State Farm increased rates for some policyholders in Illinois by more than 14 percent. State Farm also pointed to trends such as distracted driving as also contributing to the rate increase.
Allstate also increased Illinois auto insurance rates, by an average of 6.9 percent, in June.