State Farm Cuts Michigan Auto Rates 12.7%
Driving Trends Result in Insurance Rate Reduction for 1.1 million customers
Driving behaviors across the country continue to evolve during the COVID-19 pandemic. Based on current trends, State Farm® is working to reduce auto insurance rates in Michigan by 12.7%. This rate reduction will save 1.1 million State Farm customers a total of $173 million. This applies to current customers at policy renewal, as well as new and returning customers.
“Current State Farm driving data and claims experience show a considerable decline in miles driven and fewer accidents,” said State Farm Senior Vice President Kristyn Cook-Turner. “As a result, we’re looking for ways to continue supporting our Michigan customers while we monitor and adjust to trends.”
In addition to the auto rate reduction, the discount for participating in Drive Safe & Save™ is increasing to 10%, and empowers drivers to save more on their auto premiums through driving behaviors.
Customer rate reductions will vary based on their individual renewals. Customers are encouraged to visit with their State Farm agent about individual policies, coverage, and any opportunities for discounts, including Drive Safe & Save.
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 2019 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.