Tennessee Drivers See Second State Farm® Auto Rate Cut This Year
Once again, State Farm is cutting auto rates in Tennessee. Those insured with the company, or those shopping for insurance, will see a decrease. The overall personal auto rate will drop by 2.8 percent. Statewide, customers of the state's largest insurer will realize total savings of approximately $24.6 million.
The effective date for new and renewal business is Sept. 30. The previous rate change in Tennessee was effective in April 2019. Combined, the two auto rate decreases will save Tennessee customers $68.5 million.
“State Farm is very pleased to be able to offer another auto rate decrease in Tennessee” said State Farm Senior Vice President Dan Krause. “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. 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 57,500 employees serve approximately 85 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.