State Farm rate increase - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

State Farm rate increase

State Farm customers are now facing rate hikes.

The insurance company is currently implementing its second rake hike in less than a year.

Insurance commissioner Mike Geeslin asked the company to withdraw the increase saying it "may indicate a lack of rate-making discipline and lead to market instability."

Executive Director of Texas Watch Alex Winslow said "State Farm is using its size to bully the insurance commissioner, the legislature, and its customers."

The rate increase will cause Amarillo customers to have to pay about 12 percent more than they are currently.

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