Driving Less Could Save Customer More on Car Insurance
April 4, 2011 - State Farm continues its commitment to promoting safe driving with a new, mileage-based insurance program called Drive Safe & Save™ (DSS). The program will be available in Illinois beginning today, April 4.
The Drive Safe & Save™ program offers Illinois drivers the opportunity to have their State Farm auto insurance premiums based on the number of miles driven. Active OnStar™ subscribers who are enrolled in Vehicle Diagnostics can sign up at no additional cost to have their monthly mileage communicated directly to State Farm (this is the only information from the vehicle that is shared). Odometer readings will determine future premiums.
Initially, those opting to participate will save about 5 percent on liability, medical payments, and collision and comprehensive coverages. The amount of premium savings can change at each renewal date (every six months) as odometer readings become available. Those who drive the national average of 12,000 miles per year will typically save about 10 percent with the potential to save up to 44 percent.
“We are thrilled to be the largest auto insurance company in Illinois to offer this program and believe our customers will respond positively,” said Mike Larkin, State Farm Agency Vice President. “Drive Safe & Save will help us better match price to risk. The fewer the miles driven, the greater the savings for our policyholders.”
OnStar Vehicle Diagnostics (OVD) runs hundreds of diagnostics checks on key vehicle operating systems and reports the results in a monthly e-mail to subscribers, helping them stay on top of auto maintenance and the overall health of their vehicle. State Farm currently has approximately 250,000 policyholders in Illinois who drive vehicles equipped with the OnStar device.
For more specific information about this program and eligibility contact a State Farm agent or go to statefarm.com.
Missy Lundberg, State Farm Insurance, (312) 914-0857.
State Farm insures more cars and homes than any other insurer in the U.S., is the leading insurer of watercraft and is also a leading insurer in Canada. State Farm's 17,700 agents and 68,600 employees serve 81 million policies and accounts - more than 78.7 million auto, fire, life and health policies in the United States and Canada, and more than 1.9 million bank accounts. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 34 on the Fortune 500 list of largest companies. For more information, please visit statefarm.com® or in Canada statefarm.ca®.