11:20am

Fri September 11, 2009
WVAS Local

Home Insurance Rates in Alabama Are Expected to Increase

Montgomery, AL – (AP) - Homeowners insurance companies say they're
raising rates for Alabama customers.
State Farm, the company that sells the most homeowners insurance
in Alabama, says it needs more money to assure it can pay future
claims. Other major insureres in the state concur.
The average rate increases statewide range from about 6 percent
to about 26 percent.
State Farm and Alfa Mutual, another company with a substantial
share of the Alabama market, had lowered their rates in recent
years.