Good Neighbor Stories

State Farm® announces new leadership

Thu, 14 Mar 2024 11:30:58 -0500

Bloomington, IL (March 14, 2024) — State Farm President Jon Farney has been selected as the company’s next Chief Executive Officer by the State Farm Mutual Board of Directors. Farney will formally begin his role on June 1. The announcement was shared this morning by Chairman and retiring CEO Michael Tipsord.

“Jon and I have worked together for many years. I’ve seen how much he cares about State Farm, how much he cares about the people at State Farm, how he solves problems, and how focused he is on taking care of our customers,” said Tipsord at a meeting of State Farm leaders earlier today. He noted Farney’s key role in the company strategy in the last several years.

Farney joined State Farm in 1993 and has served in a variety of executive leadership roles including assistant vice president – securities products, assistant vice president – planning & analysis, vice president – financial operations and operations vice president – underwriting. He was named senior vice president, treasurer and chief financial officer in January 2016. He succeeded Michael Tipsord as president of State Farm Mutual Automobile Insurance Company on January 1, 2024. A native of Illinois, Farney earned his bachelor’s degree from Illinois State University and his MBA from the University of Michigan.

“It’s a privilege to follow Michael as CEO of this great company and lead an incredible team of more than 19,000 independent contractor agents and 65,000 employees who are committed every day to serving our customers,” said Farney. “We’ll push ourselves to continually improve so we’re positioned to help even more people manage the risks of everyday life, recover from the unexpected and realize their dreams.”

Tipsord focused on positioning the 102-year-old company to help more people in more ways for the long-term following his CEO appointment in 2015. Since then, State Farm has grown from more than 83 million policies to serving more than 94 million policies and accounts. The financial strength of the organization – necessary to help ensure the company keeps its promise to its customers – has expanded from $82.7 billion to more than $134 billion. State Farm remains the nation’s leading Auto and Home insurer.

Both Tipsord and Farney expressed to company leaders today the important role of the State Farm mission to help people. Farney emphasized the company’s long-held focus on the customer will carry forward, with an eye toward further enhancing digital capabilities and leveraging the unique talents of agents and employees throughout the country.

“With great minds, good hearts and wonderful people, there is truly no place like State Farm,” Tipsord told employees and agents earlier today. “I know the best days for this amazing organization are yet to come.”

Tipsord began his State Farm career in 1988. He was named vice chairman and chief financial officer in 2004, chief operating officer in 2011 and elected CEO and president in 2015. He was elected Chairman of the Board of State Farm Mutual Automobile Insurance Company in June 2016. Tipsord will continue to serve as Chairman. A graduate of Illinois Wesleyan University, Tipsord is a Certified Public Accountant and earned his juris doctor from the University of Illinois, where he is a member of the dean’s advisory board for the College of Law.

State Farm Joins The Network of Employers for Traffic Safety Board of Directors

Thu, 17 Jun 2021 14:37:35 -0500

Vienna, VA - The Network of Employers for Traffic Safety (NETS) is pleased to announce State Farm Insurance has joined the organization’s Board of Directors.

State Farm is the largest insurer of cars and homes in the U.S.

“The Board of Directors welcomes State Farm Board representatives Scott Winn, Small Business Insurance Loss Control Administrator, and Liz Pulver, Transportation Safety Research Senior Program Manager, to NETS,” said Terry Thomas, NETS Board Chair and Global Director of Health & Safety Technology Solutions, UPS. “State Farm is a well-recognized brand that has a long history as a safety pioneer since being founded in 1922 through their efforts to protect customers and communities from the risks of everyday life at home and on the road. Collectively, the NETS Board of Directors could not be more pleased, and we look forward to collaborating with Scott and Liz as we work to reduce risk and save lives.”

“State Farm is excited to join NETS’ Board of Directors and looks forward to partnering with other respected companies to improve road safety for employees and motorists,” Scott Winn said. “Our commitment to the safety of all road users drives State Farm leadership participation in organizations like NETS,” Liz Pulver added.

NETS’ Board of Directors members are comprised of public and private sector leaders with a commitment to road safety. They are senior level leaders who promote NETS’ mission and represent businesses and organizations that have created a proactive safety culture by promoting traffic safety policies and awareness activities in their workplaces.

Established in 1989, NETS board of director companies are recognized in the U.S. and around the world for advancing road safety. State Farm joins current board members Acertus, Chubb, Consolidated Edison, Hess Corporation, Johnson & Johnson, Liberty Mutual Insurance Group, Toyota North America, and UPS. In addition, the National Highway Traffic Safety Administration (NHTSA) and the National Institute for Occupational Safety and Health (NIOSH) serve as federal liaisons to the board of directors.

About NETS

NETS is a 501(c)3 public/private partnership dedicated to improving the safety of employees, their families, and members of the communities in which they live and work by preventing traffic crashes that occur both on and off-the-job.

NETS is a member of the United Nations Road Safety Collaboration, which provides guidance to the Decade of Action for Road Safety 2021-2030 global initiative. For more information on NETS, visit www.trafficsafety.org.

State Farm Cuts Minnesota Auto Rates 7.5%

Tue, 08 Sep 2020 16:14:00 -0500

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 Minnesota by 7.5%. This rate reduction will save 1.3 million State Farm customers a total of $66.5 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 Matt Steele. “As a result, we’re looking for ways to continue supporting our Minnesota 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.

Rate changes in Minnesota are subject to regulatory review. 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.

State Farm Cuts Wisconsin Auto Rates 9.5%

Tue, 08 Sep 2020 16:00:00 -0500

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 Wisconsin by 9.5%. This rate reduction will save 780,000 State Farm customers a total of $43.5 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 VPA Maggie Oleson. “As a result, we’re looking for ways to continue supporting our Wisconsin customers while we monitor and adjust to trends.”

Rate changes in Wisconsin are subject to regulatory approval. 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.

State Farm Cuts New Mexico Auto Rates 12.3%

Tue, 08 Sep 2020 13:38:00 -0500

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 New Mexico by 12.3%. This rate reduction will save 384,000 State Farm customers a total of $35.1 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 VPA, Eloy Martinez. “As a result, we’re looking for ways to continue supporting our New Mexico customers while we monitor and adjust to trends.”

Rate changes in New Mexico are subject to regulatory approval. 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.

State Farm Cuts Iowa Auto Rates 9.5%

Tue, 08 Sep 2020 13:23:00 -0500

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 Iowa by 9.5%. This rate reduction will save 620,000 State Farm customers a total of $35.2 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 VPA, Terry Barton. “As a result, we’re looking for ways to continue supporting our Iowa customers while we monitor and adjust to trends.”

Rate changes in Iowa are subject to regulatory approval. 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.

State Farm Cuts North Dakota Auto Rates 7.4%

Tue, 08 Sep 2020 12:41:00 -0500

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 North Dakota by an average of 7.4%. This rate reduction will save 108,000 State Farm customers a total of $4.8 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 VPA Matt Steele. “As a result, we’re looking for ways to continue supporting our North Dakota customers while we monitor and adjust to trends.”

Rate changes in North Dakota are subject to regulatory approval. 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.

State Farm Cuts Alaska Auto Rates 10.7%

Wed, 12 Aug 2020 13:22:13 -0500

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 Alaska by 10.7%. This rate reduction will save over close to 200,000 State Farm customers a total of $16 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 Tom Conley, SVP. “As a result, we’re looking for ways to continue supporting our Alaska customers while we monitor and adjust to trends.”

Rate changes in Alaska are subject to regulatory approval. 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.

State Farm Cuts Nevada Auto Rates 12.7%

Mon, 03 Aug 2020 18:07:30 -0500

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 Nevada by 12.7%. This rate reduction will save 410,000 State Farm customers a total of $57.4 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 VPA Kenneth Whitehair. “As a result, we’re looking for ways to continue supporting our Nevada customers while we monitor and adjust to trends.”

Rate changes in Nevada are subject to regulatory approval. 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.

State Farm Cuts Wyoming Auto Rates 7.3%

Mon, 03 Aug 2020 17:53:37 -0500

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 Wyoming by 7.3%. This rate reduction will save160,000 State Farm customers a total of $6.7 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 VPA Kenneth Whitehair. “As a result, we’re looking for ways to continue supporting our Wyoming customers while we monitor and adjust to trends.”

Rate changes in Wyoming are subject to regulatory review. 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.

State Farm Cuts Ohio Auto Rates 14.3%

Wed, 29 Jul 2020 11:36:59 -0500

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 Ohio by 14.3%. This rate reduction will save 1.9 million State Farm customers a total of $174.1 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 Rob Stewart. “As a result, we’re looking for ways to continue supporting our Ohio customers while we monitor and adjust to trends.”

In addition to this auto rate reduction, the discount for participating in Drive Safe & Save™ has increased 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.

State Farm Cuts Kentucky Auto Rates 9.7%

Wed, 29 Jul 2020 11:16:49 -0500

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 Kentucky by an average of 12.5%. This rate reduction will save more than 827 thousand State Farm customers a total of $66.3 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 Dan Krause, Senior Vice President. “As a result, we’re looking for ways to continue supporting our Kentucky customers while we monitor and adjust to trends.”

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.

State Farm Cuts Louisiana Auto Rates 9.6%; Totaling $132 Million

Wed, 29 Jul 2020 11:07:03 -0500

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 Louisiana by an average of 9.6%. This rate reduction will save one million State Farm customers a total of $132 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 Phillip Hawkins, State Farm Senior Vice President. “As a result, we’re looking for ways to continue supporting our Louisiana customers while we monitor and adjust to trends.”

Rate changes in are subject to regulatory approval. 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.

State Farm Cuts Oklahoma Auto Rates 9.5%

Thu, 23 Jul 2020 13:19:12 -0500

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 Oklahoma by an average of 9.5%. This rate reduction will save 813,000 Oklahoma State Farm customers a total of $59 million. The rate reduction 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 Phillip Hawkins, Sr. Vice President, State Farm. “As a result, we’re looking for ways to continue supporting our Oklahoma customers while we monitor and adjust to trends.”

Rate changes in Oklahoma are subject to regulatory approval. 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.

State Farm Cuts Tennessee Auto Rates 9.5%

Wed, 22 Jul 2020 13:48:00 -0500

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 Tennessee by an average of 9.5%. This rate reduction will save more than one million State Farm customers a total of $86 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 Dan Krause, Senior Vice President. “As a result, we’re looking for ways to continue supporting our Tennessee customers while we monitor and adjust to trends.”

State Farm Cuts Arizona Auto Rates 7.6%

Mon, 20 Jul 2020 15:06:27 -0500

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 Arizona by 7.6%. This rate reduction will save 950,000 State Farm customers a total of $63.3 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 VPA Laura Kunewa. “As a result, we’re looking for ways to continue supporting our Arizona customers while we monitor and adjust to trends.”

Rate changes in Arizona are subject to regulatory review. 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.

State Farm Cuts Utah Auto Rates 8.6%

Mon, 20 Jul 2020 14:07:58 -0500

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 Utah by 8.6%. This rate reduction will save 450,000 State Farm customers a total of $27 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 VPA Kenneth Whitehair. “As a result, we’re looking for ways to continue supporting our Utah customers while we monitor and adjust to trends.”

Rate changes in Utah are subject to regulatory review. 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.

State Farm Cuts Colorado Auto Rates 7.8%

Mon, 20 Jul 2020 14:03:48 -0500

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 Colorado by 7.8%. This rate reduction will save 975,000 State Farm customers a total of $72.6 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 Eloy Martinez, VPA. “As a result, we’re looking for ways to continue supporting our Colorado customers while we monitor and adjust to trends.”

Rate changes in Colorado are subject to regulatory review. 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.

State Farm Cuts South Dakota Auto Rates 7.3%

Fri, 17 Jul 2020 14:53:00 -0500

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 South Dakota by an average of 7.3%. This rate reduction will save 169,000 State Farm customers a total of $7.8 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 VPA Terry Barton. “As a result, we’re looking for ways to continue supporting our South Dakota customers while we monitor and adjust to trends.”

Rate changes in South Dakota are subject to regulatory review. 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.

State Farm Cuts Nebraska Auto Rates 7.6%

Fri, 17 Jul 2020 14:36:00 -0500

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 Nebraska by 7.6%. This rate reduction will save 383,000 State Farm customers a total of $20.4 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 VPA Terry Barton. “As a result, we’re looking for ways to continue supporting our Nebraska customers while we monitor and adjust to trends.”

Rate changes in Nebraska are subject to regulatory review. 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.

State Farm Cuts New York Auto Rates 12.4%

Tue, 14 Jul 2020 11:45:23 -0500

Driving behaviors across the country continue to evolve during the COVID-19 pandemic. Based on current trends, State Farm® is reducing auto insurance rates in New York by 12.4%. This rate reduction will save 1.4 million State Farm customers in New York a total of $214.8 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 Joe Spicer, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our New York customers while we monitor and adjust to trends.”

State Farm Cuts Pennsylvania Auto Rates 12.5%

Tue, 14 Jul 2020 11:38:16 -0500

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 Pennsylvania by 12.5%. This rate reduction will save 1.9 million State Farm customers in Pennsylvania a total of $216 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 Lyndsey Wellens, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our Pennsylvania customers while we monitor and adjust to trends.”

State Farm Cuts Maine Auto Rates 9.5%

Tue, 14 Jul 2020 11:30:33 -0500

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 Maine by 9.5%. This rate reduction will save 169,000 State Farm customers in Maine a total of $9.8 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 Matt Hodson, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our Maine customers while we monitor and adjust to trends.”

State Farm Cuts Missouri Auto Rates 9.6% totaling $85.8 Million

Tue, 14 Jul 2020 11:17:57 -0500

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 Missouri by an average of 9.6%. This rate reduction will save 1.1 million State Farm customers a total of more than $85 million.

“Current State Farm driving data and claims experience show a considerable decline in miles driven and fewer accidents,” said Phillip Hawkins, Sr. Vice President, State Farm. “As a result, we’re looking for ways to continue supporting our customers while we monitor and adjust to trends.”

This applies to current customers at policy renewal, as well as new and returning customers.

As part of a move to reduce auto rates nationally, State Farm has also recently filed rate reductions in Illinois and Kansas. State Farm reduced Kansas auto rates 9.3% totaling $32.9 million for 515,000 customers and in Illinois, State Farm reduced rates by 13.7% totaling $320 million for 2.8 million customers.

State Farm Cuts Washington Auto Rates 14.4%

Tue, 07 Jul 2020 18:11:50 -0500

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 Washington by 14.4%. This rate reduction will save over 1 million State Farm customers a total of $126 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 Tom Conley, SVP. “As a result, we’re looking for ways to continue supporting our Washington customers while we monitor and adjust to trends.”

State Farm Cuts Hawaii Auto Rates 13.1%

Tue, 07 Jul 2020 18:03:33 -0500

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 Hawaii by 13.1%. This rate reduction will save over 200,000 State Farm customers a total of $19.4 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 Tom Conley, SVP. “As a result, we’re looking for ways to continue supporting our Hawaii customers while we monitor and adjust to trends.”

Rate changes in Hawaii are subject to regulatory approval. 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.

State Farm Cuts Montana Auto Rates 7.5%

Mon, 06 Jul 2020 13:51:53 -0500

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 Montana by 7.5%. This rate reduction will save over 258,000 State Farm customers $13 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 Tom Conley, SVP. “As a result, we’re looking for ways to continue supporting our Montana customers while we monitor and adjust to trends.”

Rate changes in Montana are subject to regulatory approval. 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.

State Farm Cuts New Jersey Auto Rates 16%

Tue, 30 Jun 2020 13:58:06 -0500

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 New Jersey by 16%. This rate reduction will save 508,000 State Farm customers in New Jersey a total of $97 million annually. 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 Joe Spicer, Vice President - Agency/Sales. “As a result, we’re looking for ways to continue supporting our New Jersey customers while we monitor and adjust to trends.”

State Farm Cuts Idaho Auto Rates 9.7%

Tue, 30 Jun 2020 13:42:00 -0500

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 Idaho by 9.7%. This rate reduction will save over 281,000 State Farm customers a total of $14.6 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 Tom Conley, SVP. “As a result, we’re looking for ways to continue supporting our Idaho customers while we monitor and adjust to trends.”

Rate changes in Idaho are subject to regulatory approval. 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.

State Farm Cuts District of Columbia Auto Rates 12.6%

Tue, 30 Jun 2020 13:36:00 -0500

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 the District of Columbia by 12.6%. This rate reduction will save 50,000 State Farm customers in Washington D.C. a total of $9 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 Jason Bloom, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our D.C. customers while we monitor and adjust to trends.”

State Farm Cuts Vermont Auto Rates 14.3%

Mon, 22 Jun 2020 13:48:15 -0500

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 Vermont by 14.3%. This rate reduction will save 45,700 State Farm customers in Vermont a total of $4.2 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 Matt Hodson, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our Connecticut customers while we monitor and adjust to trends.”

State Farm Cuts North Carolina Auto Rates 7.7%

Thu, 18 Jun 2020 16:08:41 -0500

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 North Carolina by an average of 7.7%. This rate reduction will save over one million State Farm customers a total of $72.5 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 Dan Krause, Senior Vice President. “As a result, we’re looking for ways to continue supporting our North Carolina customers while we monitor and adjust to trends.”

State Farm Cuts Florida Auto Rates 10%

Wed, 17 Jun 2020 16:49:42 -0500

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 Florida by an average of 10%. This rate reduction will save more than two million State Farm customers a total of $290 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 Dan Krause, Senior Vice President. “As a result, we’re looking for ways to continue supporting our Florida customers while we monitor and adjust to trends.”

State Farm Cuts Texas Auto Rates 12.4%

Wed, 17 Jun 2020 11:54:52 -0500

Driving behaviors across the country continue to evolve during the COVID-19 pandemic. Based on current trends, State Farm is reducing auto insurance rates in Texas by an average of 12.4%. This rate reduction will save 3.2 million State Farm customers in Texas a total of $397 million.

“Current State Farm driving data and claims experience show a considerable decline in miles driven and fewer accidents,” said Phillip Hawkins, State Farm Senior Vice President. “As a result, we’re looking for ways to continue supporting our Texas customers while we monitor and adjust to trends.”

The rate reduction applies to current customers at policy renewal, as well as new and returning customers.

In addition, 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.

Rate changes in Texas are subject to regulatory review. 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.

State Farm Cuts Connecticut Auto Rates 10%

Wed, 17 Jun 2020 11:45:07 -0500

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 Connecticut by 10%. This rate reduction will save 185,000 State Farm customers in Connecticut a total of $20 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 Matt Hodson, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our Connecticut customers while we monitor and adjust to trends.”

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.

State Farm Cuts Alabama Auto Rates 12.5%

Wed, 10 Jun 2020 14:55:29 -0500

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 Alabama by an average of 12.5%. This rate reduction will save more than one million State Farm customers a total of $106.4 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 Dan Krause, Senior Vice President. “As a result, we’re looking for ways to continue supporting our Alabama customers while we monitor and adjust to trends.”

Get the Real Deal on Michigan’s New Auto Reform Laws

Wed, 10 Jun 2020 09:35:40 -0500

As more Americans look for more ways to keep money in their pockets, State Farm agents in Michigan look forward to helping drivers do just that. Michigan’s new Auto Reform Law goes into effect this summer and drivers can now determine how much money the change could save them on auto insurance costs. State Farm wants to make sure consumers know their choices before they have to make decisions on car insurance coverage.

Since 1973, mandatory unlimited Personal Injury Protection (PIP) has been in place for all drivers. Beginning July 2nd, consumers will have a choice of PIP medical coverages and may save money, instead of paying some of the highest rates in the nation.

State Farm agents are assisting drivers with quotes on future auto coverage. There are several options drivers can choose from, and having a conversation with a State Farm agent can break down the options so you can make the best choice for you and your family. PIP options include:

Option 1: Unlimited Coverage (this would be the same as you have today)
Option 2: Up to $500,000 in coverage
Option 3: Up to $250,000 in coverage
Option 4: Up to $250,000 in coverage with some or all persons excluded from PIP medical. For instance, you may qualify for this option if you have qualified health insurance. That means your health care policy does not exclude auto injuries and your deductible is not greater than $6000.
Option 5: You can choose $50,000 in coverage if you’re enrolled in Medicaid and meet other eligibility criteria.
Option 6: PIP Medical Opt-Out. You can choose to have no PIP medical if you have Medicare Parts A & B and again, if you meet other eligibility criteria.

“State Farm understands how overwhelming this process can be for drivers,” says State Farm Area Vice President Alec Hagan. “Sitting down with an agent and actually having a conversation will make a difference in being able to make an informed decision.”

While your new rates won’t start until July 2^nd, it is good for drivers to understand their options ahead of time. State Farm is offering customers the option of taking advantage of the new coverage options before their renewal date. We encourage drivers to make an appointment with a State Farm agent today to learn more about your options for keeping you and your family covered on the road.

State Farm Cuts Illinois Auto Rates 13.7%

Mon, 08 Jun 2020 16:45:37 -0500

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 Illinois by 13.7%. This rate reduction will save 2.8 million State Farm customers a total of $320 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 Rob Stewart. “As a result, we’re looking for ways to continue supporting our Illinois customers while we monitor and adjust to trends.”

In addition to this 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.

State Farm Cuts Delaware Auto Rates 13.4%

Mon, 08 Jun 2020 15:09:00 -0500

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 Delaware by 13.4%. This rate reduction will save 200,000 State Farm customers in Delaware a total of $28.7 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 Glenda Beach, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our Delaware customers while we monitor and adjust to trends.”

State Farm Cuts Auto Rates, Saving Maryland Customers a Total of $137.8 Million

Mon, 08 Jun 2020 09:10:42 -0500

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 Maryland by 14.6%. This rate reduction will save 827,000 State Farm customers in Maryland a total of $137.8 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 Glenda Beach, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our Maryland customers while we monitor and adjust to trends.”

State Farm Cuts Virginia Auto Rates 9.6%

Tue, 02 Jun 2020 17:08:04 -0500

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 Virginia by 9.6%. This rate reduction will save 1.2 million State Farm customers in Virginia a total of $84.3 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 Lan Martin, Vice President – Agency/Sales. “As a result, we’re looking for ways to continue supporting our Virginia customers while we monitor and adjust to trends.”

State Farm Cuts West Virginia Auto Rates 9.6%

Mon, 01 Jun 2020 13:52:00 -0500

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 West Virginia by 9.6%. This rate reduction will save 400,000 State Farm customers in West Virginia a total of $30.3 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 Len Martin, Vice President - Agency/Sales. “As a result, we’re looking for ways to continue supporting our West Virginia customers while we monitor and adjust to trends.”

Rate changes in West Virginia are subject to regulatory approval. 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.

State Farm Cuts Oregon Auto Rates 12.4%

Fri, 29 May 2020 21:17:00 -0500

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 Oregon by 12.4%. This rate reduction will save over 820,000 State Farm customers a total of $72 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 Tom Conley, SVP. “As a result, we’re looking for ways to continue supporting our Oregon customers while we monitor and adjust to trends.”

Rate changes in Oregon are subject to regulatory approval. 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.

State Farm Cuts Auto Rates, Saving New Hampshire Customers a Total of $15.6 Million

Fri, 29 May 2020 21:08:00 -0500

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 New Hampshire by 14.6%. This rate reduction will save 146,000 State Farm customers in New Hampshire a total of $15.6 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 Matt Hodson, Vice President - Agency/Sales. “As a result, we’re looking for ways to continue supporting our New Hampshire customers while we monitor and adjust to trends.”

State Farm Cuts South Carolina Auto Rates 6.6%

Thu, 28 May 2020 20:58:00 -0500

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 South Carolina by an average of 6.6%. This rate reduction will save more than one million State Farm customers a total of $65.9 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 Dan Krause, Senior Vice President. “As a result, we’re looking for ways to continue supporting our South Carolina customers while we monitor and adjust to trends.”

State Farm Cuts Kansas Auto Rates 9.3%

Wed, 27 May 2020 20:51:00 -0500

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 Kansas by an average of 9.3%. This rate reduction will save nearly 515,000 State Farm customers a total of $32.9 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 Stephanie Mollica, State Farm Agency Vice President. “As a result, we’re looking for ways to continue supporting our Kansas customers while we monitor and adjust to trends.”

Rate changes are subject to regulatory approval. 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.

State Farm Cuts Arkansas Auto Rates 7.5%

Wed, 27 May 2020 15:51:09 -0500

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 Arkansas by an average of 7.5%. This rate reduction will save 605,000 State Farm customers a total of $37.2 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 Heather Ladd, Agency Vice President, State Farm. “As a result, we’re looking for ways to continue supporting our Arkansas customers while we monitor and adjust to trends.”

Rate changes in Arkansas are subject to regulatory approval. 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.

State Farm Cuts Indiana Auto Rates 9.6%

Wed, 27 May 2020 14:39:11 -0500

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 Indiana by 9.6%. This rate reduction will save 1.2 million State Farm customers a total of $79.9 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 Rob Stewart. “As a result, we’re looking for ways to continue supporting our Indiana customers while we monitor and adjust to trends.”

In addition to this auto rate reduction, the discount for participating in Drive Safe & Save™ is increasing to 10% with this filing, and empowers drivers to save more on their auto premiums through driving behaviors.

State Farm Cuts Michigan Auto Rates 12.7%

Thu, 21 May 2020 17:11:54 -0500

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.”

State Farm Cuts Mississippi Auto Rates 9.5%

Wed, 20 May 2020 16:45:00 -0500

Driving behaviors across the country continue to evolve during the COVID-19 pandemic. Based on current trends, State Farm has filed to reduce auto insurance rates in Mississippi by 9.5%. If approved, this rate cut will save more than 538 thousand State Farm customers a total of $45.3 million. The rate change applies to current customers at policy renewal, as well as new and returning customers.

"We are pleased to be able to continue to help our Mississippi customers in this way, during this unprecedented time." said John Langcuster, Vice President, Agency/Sales.

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 their driving behaviors.