Millions of Texas Drivers to Benefit From Auto Insurance Rate Cuts

RICHARDSON, Texas, Feb. 15 -- State Farm Companies, an auto, home and individual life insurance provider, issued the following news release:

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- State Farm(R) Files Fourth Rate Reduction in a Year

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Nearly three million Texas drivers could see a sizable reduction in auto insurance premiums again this year. State Farm, is cutting its Texas auto rates for the fourth consecutive time. Beginning Feb. 18, the overall personal auto rate will drop by 4.3 percent for customers of the state's largest insurer. 2.9 million State Farm auto customers will realize total savings of more than $136 million.

"State Farm is always evaluating how we can best serve our customers. We are very pleased to be able to offer another auto rate decrease in Texas," said State Farm Senior Vice President Phillip Hawkins. "Improving expenses and losses were important factors, among many, that supported our decision to make this rate change."

Since January 2018, State Farm has lowered auto rates more than 12 percent.

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.