State Farm to Cut Personal Auto Rates by 3% in Alabama

Approximately 950,000 State Farm Mutual Automobile Insurance Co. personal auto insurance customers in Alabama will see rate reductions starting next month, according to the nationwide insurance company.

Thanks to the company’s current financial position and what it called strong business and economic conditions in the marketplace, it was able to offer the decrease that is expected to have a state-wide impact for State Farm Mutual of approximately $23.5 million. The company is the largest auto insurer in Alabama.

“The company’s current financial strength is allowing us to pass along a rate reduction to our Alabama customers,” said State Farm Senior Vice President Dan Krause. “We continually evaluate how we can best serve our customers and are very pleased to be able to offer this rate decrease in Alabama.”

State Farm said overall changes in premiums for individual motorists will vary depending on the specific details of an individual customer’s policy and chosen coverage. The effective date for new and renewal business is June 11, 2018. Alabama customers with questions can contact their local State Farm agent to discuss their individual situation.

In addition to this rate reduction, State Farm agents are able to review with new and existing customers opportunities for additional discounts that may apply to an individual’s unique circumstances.

State Farm provides auto and home insurance across the U.S. through nearly 19,000 agents, serving more than 84 million policies and accounts. It also offers commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles.

Source: State Farm Mutual Insurance Co.

Topics Auto Personal Auto Alabama Personal Lines