TRENTON, N.J., April 24 – Six car insurance companies lowered their rates and three increased them in the first four months of 2007, according to an analysis by Insurance Advocate of rate filings approved by the state Insurance Department.

State Farm Indemnity and State Farm Guaranty, New Jersey Manufacturers, Hanover Insurance, Mercury Indemnity, and Founders Insurance decreased rates.

The rates went up for Travelers Auto Insurance Company of New Jersey, AAA Mid-Atlantic Insurance Company of New Jersey, and Consumer First Insurance.

State Farm Indemnity lowered its rates an average of 2.9 percent, effective April 9, for its 500,000 insureds. With this reduction State Farms overall rate level in New Jersey is now 32.4 percent lower than it was four years ago.

The reduction is possible because of better-than-expected loss projections, explained John Baldino, public affairs executive for the Northeast zone of State Farm companies.

He said, The reforms made by the Legislature and the department [have] created a competitive and healthy market place for insurance in New Jersey.

New Jersey Manufacturers lowered its rates by an average 0.61 percent, effective February 15, for its 791,000 insureds. Rates for liability and uninsured/underinsured covered went up 5.8 percent and personal injury projection (PIP) increased 6.1 percent.

To offset those increases, collision decreased 5.9 percent and comprehensive dropped 27.6 percent, for an aggregated average of a 10.9 percent decease for physical damage coverage.

A new discount also became effective for policies issued or renewed on or after February 15. Those NJM customers with a homeowners policy for houses or condominiums will also get a five percent discount on their NJM auto policy. Renters with homeowners policies will not get the auto discount.

Insurance Services Office, a licensed rating organization in New Jersey, obtained approval to lower its advisory prospective loss costs by an overall 6.6 percent. An advisory prospective loss cost is the part of a rate that does not include provisions for insurers profits or expenses.

The loss costs of ISO may be used by participating insurers as a basis to set their own rates. The ISO changes go into effect May 1.

AAA Mid-Atlantic Insurance Company of New Jersey, with 50,000 policies, increased its rates slightly by 1.38 percent on January 15. An official said that the average premium will go up by about $14 per car. The compensation/collision rate went down three percent and the liability rate went up about four percent.

Travelers Auto Insurance Company of New Jersey increased its rates by 4.6 percent for its 249,000 insureds, effective January 2.

Hanover Insurance Co. lowered its rates by an average of nine percent for its 65,000 insureds, effective January 8.

Mercury Indemnity Co. of America dropped its rates by an average of one percent for its 138,000 insureds, effective April 9.

Consumer First Insurance, increased its rates by 2.5 percent for its 11,000 insureds, effective May 1.

Founders Insurance Co dropped its rates by 2.1 percent for its 14,000 insureds, effective May 1.