State Farm Insurance, by far the largest insurer of homes in Illinois, early next year will raise rates more than it has in four years. casualty insurers has focused on a relentless series of car-policy price hikes, homeowners’ pricing has remained.
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State Farm’s staggering auto insurance loss is the most visible sign yet of how distracted driving and rising repair and medical costs are hammering car insurers. Many are hiking rates at levels not seen in years to try to keep pace with the claims payouts.