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You are here: Home / News / State Farm Announces $2.2 Billion in Auto Insurance Cuts

State Farm Announces $2.2 Billion in Auto Insurance Cuts

May 19, 2020 By CollisionWeek Editor

State Farm announced that based on current trends, it is working to reduce auto insurance rates in every state. The national average for those rate reductions is 11%, saving customers a total of approximately $2.2 billion.

State Farm InsuranceThe rate reductions are in addition to its Good Neighbor Relief Program that State Farm previously announced would provide up to a $2 billion dividend, flexible customer payment options and philanthropic relief. Together, State Farm auto customers should see about $4.2 billion in savings.

“Current State Farm driving data and claims experience show a considerable decline in miles driven and fewer accidents,” said State

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Filed Under: News Tagged With: Premiums, State Farm

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