Tuesday, 12 February 2008
State Farm To Reduce Rates In West Virginia
State Farm Mutual Insurance Company recently announced they will reduce auto insurance rates for drivers living in West Virginia. The state’s largest auto insurer said they will cut rates an average of 4.9 percent.
Since 2005, State Farm has reduced rates by a total of 17.6 percent, reported the Charleston Daily Mail. That’s an estimated $58 million in savings for policyholders.
State Farm provides auto insurance for roughly 25 percent of drivers in West Virginia — that’s approximately 370,000 cars in the state.
But not every driver gets an equal discount.
“Overall premium changes for individual motorists will vary depending on factors such as the coverage they carry, the discounts for which they qualify, where they live, the kind of vehicle insured, who drives it and how much it is driven,” explained the auto insurer.
The rate reductions have been a result of the insurance reforms passed by state lawmakers and signed by Governor Joe Manchin.
Discounts will go into effect on March 17.
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