State Farm Auto Rate Cut to Save Washington Customers $23 Million

BLOOMINGTON, Illinois, June 19 -- State Farm Companies, an auto, home and individual life insurance provider, issued the following news release:

State Farm Mutual Automobile Insurance Company, the largest auto insurer in Washington and in the nation, will cut its rates in that state. As a result, its overall auto rate will drop by three percent. The total state-wide savings for all State Farm customers affected by this rate decrease in Washington will be approximately $23 million.

"The company's financial strength is allowing us to pass along rate savings to our Washington customers," said State Farm Senior Vice President Tom Conley. "We continually evaluate how we can best serve our customers and are very pleased to be able to offer this rate decrease in Washington."

Overall changes in premiums for individual motorists will vary depending on the specific details of an individual customer's policy and chosen coverages. The average Washington customer savings will be approximately $24 per year. The effective date for new and renewal business is July 30, 2018. Washington 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.