State Farm Mutual Automobile Insurance Co. announced it is cutting its overall personal auto insurance rate will drop by 3.5 percent in Michigan.
The total state-wide expected impact for State Farm Mutual by this rate decrease in Michigan will be a savings of approximately $48.4 million, the insurer said.
Overall changes in premiums for individual motorists will vary depending on the specific details of an individual customer’s policy and chosen coverage. The effective date for new and renewal business is March 25.
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.
Source: State Farm
Was this article valuable?
Here are more articles you may enjoy.
Suspects in Louvre Heist in Custody After Week-Long Manhunt 
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
