For many, the 6.9% average increase might seem steep, but there's a silver lining. If you're a policyholder who has opted for liability only, the rate increase you'll encounter will likely be under 6%. So, in essence, many drivers can breathe a sigh of relief, especially if they aren't availing collision coverage.



However, for those who have collision coverage on their policies, the situation might be a bit grim. The 16.4% jump in collision premiums is hefty and can make a significant dent in your wallet. Collision coverage may pay to repair or replace your car if you're in an accident with another vehicle or object. Given the value this coverage provides, many Californians opt for it. Unfortunately, for them, the rate surge is more pronounced and may be over 7%.



The insurance landscape in 2023 is dynamic, and prices are in flux. With the recent announcement from Farmers, now might be the optimal time for you to reassess you auto insurance needs. If you're feeling the pinch of this rate increase, shopping around for quotes from other providers would be a financially savvy move.

Here is a calculator you can use to estimate your premium increase:

This estimator tool is only an estimate. This calculates the average increase customers can expect. (The input value is multiplied by 1.069)

While Farmers rate increase in California might be a cause of concern for many, it's crucial to see it as a nudge – a nudge to evaluate your options and only act if its benefitial for you.

✅Farmers is not alone in raising rates, so you may find the market is comperable to your existing policy.