State Farm Insurance

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State Farm retirees lose some medical coverage

Bloomington-based State Farm Insurance Cos. will stop providing supplemental medical coverage for its Medicare-eligible retirees next year in a cost-cutting move.

The company says it will instead help them find supplemental Medicare coverage and provide them with $200 a month to help. About 18,000 of the company’s 27,800 retirees are Medicare-eligible. Get the full story »

State Farm may cut jobs after assessment

From | State Farm Insurance acknowledged the possibility of upcoming job losses after completing an internal assessment of five departments.

State Farm to raise homeowner rates 5.3%

Bloomington-based State Farm is raising its homeowners’ rates by 5.3 percent in Illinois, according to a new filing with the Illinois Department of Insurance.

The rate change kicked in on Nov. 1 for new customers. For customers renewing with State Farm, the rate hike will start on Jan. 1.

In July 2009, State Farm announced an average statewide rate increase of 13 percent for its Illinois homeowners insurance policyholders. Get the full story »

Illinois No. 2 in Thanksgiving-cooking claims

(State Farm photo)

Setting your house on fire is sure way for your Thanksgiving Day to end up a turkey. But it happens every year.

Bloomington-based State Farm alone says that during the past five years it has received more than 160 damage claims related to Thanksgiving cooking accidents. Of the 10 states with the most claims, Texas ranks first, with 33 claims in that time period, while Illinois and Ohio round out the top 3, with 22 and 18, respectively. Get the full story »

State Farm introduces distracted driving tool

State Farm Insurance Co., the Bloomington-based home and auto insurer, said it has introduced what it claims is the insurance industry’s first free mobile phone accessory to address growing concerns about distracted driving.

Rival Allstate Corp. of Northbrook couldn’t be reached for immediate comment.

State Farm’s “On the Move” widget enables Android smartphone users to let people texting them know that they’re busy or driving. Besides reducing the number of accidents, such a tool could help insurers lower claims costs. Get the full story »