Illinois Drivers to Benefit From State Farm Rate Cuts

BLOOMINGTON, Illinois, Feb. 18 -- State Farm Companies, an auto, home and individual life insurance provider, issued the following news release:

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- 2 Percent Rate Decrease to Affect Approximately 2.7 Million Policyholders

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State Farm will cut its auto rates in IL for the second year in a row. As a result, the overall personal auto rate will drop by 2 percent. Statewide, customers of the state's largest insurer will realize total savings of approximately $43 million.

"State Farm is very pleased to be able to offer another auto rate decrease in Illinois," said State Farm Senior Vice President Rob Stewart. "Improving expenses and losses were important factors, among many, that supported our decision to make this rate change."

The effective date for new and renewal business is March 18. The last rate change in Illinois was a decrease of 2.9 percent in May 2018.

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 an exceptional long-term value to State Farm customers.

About State Farm:

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 nearly 19,000 agents and approximately 65,000 employees serve approximately 83 million policies and accounts - approximately 81 million auto, fire, life, health and commercial policies and approximately 2 million bank 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 2018 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.