Auto Insurance Rates Cut for Michigan State Farm® Customers
3.5 Percent Rate Decrease to Affect 1.1 Million Policies
State Farm Mutual Automobile Insurance Companies, the largest auto insurer in Michigan and in the nation, will cut its auto rates in Michigan. As a result, its overall personal auto rate will drop by 3.5 percent. The total statewide expected impact for State Farm Mutual by this rate decrease in Michigan will be a savings of approximately $48.4 million.
“We’re always evaluating how we can best serve our customers and are very pleased to be able to offer this rate decrease in Michigan,” said State Farm Vice President Agency Kelly O’Brien. “Improving expenses and losses were important factors, among many, that supported our decision to make this rate change.”
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 March 25, 2019. 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 19,200 agents and 57,500 employees serve approximately 84 million policies and accounts – which includes auto, fire, life, health, commercial policies and 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.