Delaware Approves Home, Auto Insurance Rate Reductions

November 20, 2006

Delaware Insurance Commissioner Matt Denn has approved insurance rate cuts for State Farm homeowner policies as well as for private passenger auto policies from three AIG companies, from Harleysville Insurance and from Westfield Insurance.

The approved rate cuts include:

State Farm Fire and Casualty Insurance Co. reduced rates for homeowner and rental policies by an average of 6 percent statewide.

Three individual companies that are part of AIG cut rates for auto insurance policies: American International Pacific Insurance Co. by an average of 7.1 percent; American International South Insurance Co. by an average of 4.1 percent; and Birmingham Fire Insurance Co. by an average of 4.1 percent.

Harleysville Preferred Insurance Co. cut auto insurance policies by 9.4 percent overall.

Westfield Insurance Co. reduced auto insurance policies by an average of 2.6 percent.

Not every policy holder will receive the same rate change. Rate changes will vary for each policy holder and can vary by geographic area as well.

Source: Delaware Insurance Commissioner

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