Millions of Texas Drivers to Benefit from Auto Insurance Rate Cuts
State Farm® Files Fourth Rate Reduction in a Year
Nearly three million Texas drivers could see a sizable reduction in auto insurance premiums again this year. State Farm is cutting its Texas auto rates for the fourth consecutive time. Beginning Feb. 18, the overall personal auto rate will drop by 4.3 percent for customers of the state’s largest insurer. 2.9 million State Farm auto customers will realize total savings of more than $136 million.
“State Farm is always evaluating how we can best serve our customers. We are very pleased to be able to offer another auto rate decrease in Texas,” said State Farm Senior Vice President Phillip Hawkins. “Improving expenses and losses were important factors, among many, that supported our decision to make this rate change."
Since January 2018, State Farm has lowered auto rates more than 12 percent.
Overall changes in premiums for individual motorists will vary. Rates depend on a customer’s policy and chosen coverage. Customers can contact their local State Farm agent to discuss their individual situation. Additional opportunities for discounts may apply.
The mission of State Farm is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its 19,200 agents and 59,000 employees serve approximately 84 million policies and accounts – over 81 million auto, fire, life, health and commercial policies and over 2 million financial services 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. State Farm is ranked No. 36 on the 2020 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.