Auto insurance rates cut for 700,000 State Farm customers in Arizona
State Farm Mutual Automobile Insurance Company, the largest auto insurer in the state and in the nation, will cut its rates in Arizona. As a result, its overall personal auto rate will drop by 3 percent. The total state-wide expected impact for State Farm Mutual by this rate decrease in Arizona will be approximately $22.3 million. Combined with a previous decrease in 2018, State Farm has reduced auto rates by more than 6% over the last year, totaling more than $42.1 million in savings.
“We’re always evaluating how we can best serve our customers and are very pleased to be able to offer this rate decrease in Arizona,” said State Farm Area Vice President, Sonya Robinson. She adds, “The financial position of State Farm and current business and economic conditions in the marketplace 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 February 11, 2019. Arizona 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 an exceptional long-term value to State Farm customers.