Auto Insurance Rates Cut Again for Colorado State Farm® Customers
850,000 policyholders benefit from 3.7 percent rate decrease
State Farm is cutting its auto rates again in Colorado. Beginning March 11, the overall personal auto rate will drop by 3.7 percent. Statewide, approximately 850,000 customers will realize total savings of about $29.8 million.
“We’re always evaluating how we can best serve our customers and are very pleased to offer this rate decrease in Colorado,” said State Farm Senior Vice President Denise Hardin. “Improving expenses and losses were important factors, among many, that supported our decision to make this rate change.”
A 4.7 percent rate decrease in June 2018, combined with this 3.7 percent rate decrease will save customers approximately $70 million. State Farm is the largest insurer in Colorado.
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.
A rate decrease combined with discounts offers 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 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 bank and investment planning 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.