State Farm Florida Cuts Home Insurance Rates

TALLAHASSEE, Florida, May 16 -- State Farm Companies, an auto, home and individual life insurance provider, issued the following news release:

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- Average 14.4% Rate Decrease to Affect Over 270,000 Policyholders

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State Farm Florida current and future home insurance customers will be saving money. State Farm Florida is reducing its home insurance rates by an average of 14.4 percent. The total statewide savings impact for customers will be approximately $95.9 million.

"State Farm Florida is always evaluating how we can best serve our customers. We are very pleased to be able to offer this rate decrease," said Dan Krause, State Farm Senior Vice-President.

"There were several factors supporting the decision to lower rates. Among them were stable, non-catastrophe loss trends and the strength of State Farm Florida."

The rate decrease is effective May 15 for new business and July 1 for renewals.

Overall changes in premiums for individual homeowners will vary. Rates depend on a customer's policy and chosen coverage. New and existing 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 exceptional long-term value to State Farm customers.