One of the state’s largest vehicle insurers is cutting rates.
State Farm Mutual Automobile Insurance Company will cut its rates in Delaware. by 3 percent. The rate decrease is expected to total $5.6 million.
“The company’s current financial strength is allowing us to pass along a rate reduction to our Delaware customers,” said State Farm Senior Vice President Chris Schell. “We continually evaluate how we can best serve our customers and are very pleased to be able to offer this rate decrease in Delaware”.
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 August 27. Delaware customers with questions can contact their local State Farm agent to discuss their individual situation.
In addition to this rate reduction, State Farm agents can to review with new and existing customers for additional discounts.
State Farm and its affiliates are the largest providers of auto and home insurance in the United States.
Its nearly 19,000 agents and nearly 70,000 employees serve more than 84 million policies and accounts, including more than 81 million auto, fire, life, health and commercial policies, and more than two million bank accounts.
State farm also offers commercial insurance.
The company has a large employment center near the Delaware line in Concordville, PA.
Delaware still has among the highest vehicle insurance rates in the country. However, competition has intensified as more carriers attempt to woo customers.
Click here for an Insurance.com ranking of rates.
