State Farm Mutual Automobile Insurance Co. will cut its rates in Hawaii for the third time in two years, the company announced.
As a result, its overall personal auto rate will drop by 2.6 percent. The total state-wide expected impact for State Farm Mutual by the rate decrease in Hawaii will be roughly $3.8 million.
The last auto rate change in Hawaii was a decrease of 3 percent in November of 2018. Combined, the three auto rate decreases will save Hawaii customers a reported $10.1 million.
Overall changes in premiums for individual motorists will vary. The effective date for new and renewal business is July 22.
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