State Farm® Mutual Automobile Insurance Company Auto Rate Cut For Kentucky Customers
Rate Adjustment to Affect Approximately 730,000 Policyholders
State Farm Mutual Automobile Insurance Company, the largest auto insurer in Kentucky and in the nation, will cut preferred auto rates in Kentucky effective June 25, 2018. As a result, the preferred overall personal auto rate for private passenger vehicles will drop by 3.1%. The total state-wide expected impact for State Farm customers as a result of this rate decrease will be approximately $21 million.
“The company’s current financial strength is allowing us to pass along a rate reduction to our Kentucky 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 Kentucky.”
Overall changes in premiums for individual motorists will vary depending on the specific details of an individual customer’s policy and chosen coverages. Kentucky 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.
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 nearly 19,000 agents and approximately 58,000 employees serve approximately 83 million policies and accounts – approximately 81 million auto, fire, life, health and commercial policies and approximately 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. State Farm is ranked No. 36 on the 2018 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.