Tuesday, 24 April 2007
State Farm To Save Drivers Millions
State Farm announced they will drop auto insurance premiums an average of 6 percent in Illinois and 4 percent in Georgia. Illinois drivers will save roughly $97 million in total, while Georgia drivers will save around $44 million.
Individual savings will be determined based on factors such as driving record, place of residence, and specifics about the insured car.
The reduction of auto insurance rates is partly because of a more competitive marketplace, but is largely a result of fewer claims and billion-dollar profits in 2006. In Illinois, State Farm reported a $5.32 billion profit — up by almost $2 billion from 2005.
“We’re seeing fewer accidents, and that’s good news,” said president of the Insurance Information Institute, Robert Hartwig. “Ultimately, that is going to benefit customers as we pass along those savings.”
Technorati Tags: Auto Insurance Illinois Auto Insurance Georgia Auto Insurance
