Auto Insurance Rate Cut for Wisconsin State Farm® Customers
2.9 Percent Rate Decrease to Affect Approximately 720,000 Policyholders
State Farm Mutual Automobile Insurance Company, the largest auto insurer in Wisconsin and in the nation, will cut its rates in February. As a result, its overall personal auto rate will drop by 2.9 percent. The total statewide expected impact for State Farm Mutual by this rate decrease in Wisconsin will be approximately $11.9 million.
This is the second consecutive year State Farm has decreased auto rates in Wisconsin by 2.9 percent. The auto rate decrease last year went into effect in August. In July 2018, State Farm announced a 10 percent boat rate decrease in Wisconsin.
“We’re always evaluating how we can best serve our customers and are very pleased to be able to offer this rate decrease in Wisconsin,” said State Farm Agency Vice President Maggie Oleson. “Lower than expected 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 coverages. The effective date for new and renewal business is Feb. 25, 2019. Wisconsin 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 exceptional long-term value to State Farm customers.
For over 100 years, the mission of State Farm has been 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 more than 19,400 agents and 67,000 employees serve over 91 million policies and accounts – including auto, fire, life, health, commercial policies and financial services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 44 on the 2023 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.