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State Farm – one of America’s largest vehicle insurers – has announced that it is cutting auto insurance rates in Delaware.
The insurer is planning a 3% rate decrease; the adjustment is expected to total $5.6 million in savings, Delaware Business Now reported.
“The company’s current financial strength is allowing us to pass along a rate reduction to our Delaware customers,” commented State Farm senior vice-president Chris Schell. “We continually evaluate how we can best serve our customers and are very pleased to be able to offer this rate decrease in Delaware.”
State Farm noted that overall changes in premiums for individual motorists will still vary, based on the specific details of an individual customer’s policy and chosen coverages. The company also announced that the effective date for new and renewal business is August 27.
On top of the rate reduction, State Farm has invited both new and existing customers in Delaware to reach out to any of the company’s agents to ask for additional discounts.
In May, State Farm had also announced a rate reduction for consumers in Kentucky. At the time of the announcement, the insurer said that it would cut rates in the state by 3.1%.
