According to the website ratezip.com State Farm had a rate increase in 19 of the last 25 years. The most recent rate increase was in 2019 when rates went up an average of 3.8%. State Farm typically raises rates every other year.
The website InsuranceQuotes also reports that State Farm has had rate increases in recent years. In 2018 rates went up by an average of 3.5%. In 2017 rates increased by an average of 2.3%.
It is not clear why State Farm has had so many rate increases in recent years. However the company has been facing more lawsuits and natural disasters which may be causing them to raise rates to cover their losses.
Did State Farm have a rate increase in 2020?
No State Farm did not have a rate increase in 2020.
