For the Second Time in Two Years, State Farm Cuts Auto Insurance Rates in South Carolina

COLUMBIA, South Carolina, Feb. 22 -- State Farm Companies, an auto, home and individual life insurance provider, issued the following news release:

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- 4.4% Rate Decrease to Affect Almost 1 Million Policies

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State Farm Mutual Automobile Insurance Companies, the largest auto insurer in South Carolina and in the nation, will cut its auto rates in the state for the second time in two years. As a result, its overall personal auto rate will drop by 4.4 percent. The total statewide expected impact for State Farm Mutual by this rate decrease in South Carolina will be a savings of approximately $35.9 million.

"We're always evaluating how we can best serve our customers and are very pleased to be able to offer this rate decrease in South Carolina," said State Farm Vice President-Agency Becky Blevins. "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 depending on the specific details of an individual customer's policy and chosen coverages. The effective date for new and renewal business is March 18, 2019. 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.