Nearly 3 million State Farm customers in Illinois are in for a lower auto insurance rate beginning next month. The insurance company is cutting rates by 2 percent.
State Farm says the new auto insurance rate, taking effect March 18, will save customers a combined $43 million.
“We’re always evaluating how we can best serve our customers and are very pleased to be able to offer this rate decrease in Illinois,” State Farm Senior Vice President Rob Stewart said. “Lower than expected expenses and losses were important factors, among many, that supported our decision to make this rate change.”
The cut follows last May’s near 3 percent cut.
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