State Farm to cut rates statewide
WAYNE — State Farm Mutual Automobile Insurance Company will soon be cutting its rates in West Virginia.
As a result, its overall personal auto rate will drop by 2.9 percent. The total state-wide expected impact for State Farm Mutual by this rate decrease in West Virginia will be approximately $9.1 million.
“The company’s current financial strength is allowing us to pass along a rate reduction to our West Virginia customers,” State Farm Senior Vice President Chris Schell said. “We continually evaluate how we can best serve our customers and are very pleased to be able to offer this rate decrease in West Virginia.”
This change will impact approximately 384,000 customers of State Farm Mutual insuring a private passenger vehicle in the state.
Overall changes in premiums for individual motorists will vary depending on the specific details of an individual customer’s policy and chosen coverages. The effective date for new and renewal business is Aug. 20. West Virginia 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 the many opportunities for additional discounts that may apply to an individual’s unique circumstances. A rate decrease combined with discounts offers an exceptional long-term value to State Farm customers.
State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its nearly 19,000 agents and nearly 70,000 employees serve more than 84 million policies and accounts - more than 81 million auto, fire, life, health and commercial policies, and more than 2 million bank accounts.
Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles is available.
State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies.
For more information, please visit http://www.statefarm.com.