State Farm Insurance will raise renewal rates for home and condominium owners in February. The Bloomington-based insurance company will implement a 3.9 percent average increase for homeowners and a 6.2 percent average rate hike for condominium owners, effective Feb. 1. “State Farm’s highest priority is to keep our promises to our policyholders and be there when they need us most,” said spokeswoman Missy Dundov. “To keep this commitment, we must maintain our financial strength by appropriately matching our rates to the amount of risk we’re insuring.” Read the article……………
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