Parsippany, NJ (January, 2013)
State Farm Mutual Automobile Insurance Company, the largest insurer of autos in the nation, is decreasing its overall rate level in Connecticut an average of 3.5% percent effective January 21. This represents an annual savings of $3,524,700 to the company's Connecticut customers. Customers under the State Farm Fire & Casualty Company will also experience a decrease of 1.6% on average for a $333,500 savings annually.
After this rate change is implemented, State Farm's overall rate level in Connecticut will be 16.4% lower than it was 21 years ago.
As part of this rate change, Connecticut policyholders may be able to exercise even more control over how much they can save on their auto insurance with our Drive Safe and Save™ program."
Premiums for most coverages are going down for most customers, with the largest decrease to the collision coverage. Overall premium changes for individual motorists will vary depending on factors such as the coverages they carry, the discounts for which they qualify, where they live, the kind of car insured, who drives it and how much it is driven.
About one in every 20 cars insured in Connecticut is insured by State Farm.
Arlene J. Lester
State Farm Public Affairs
Phone: (973) 943-6524
State Farm and its affiliates are the largest provider of car insurance in the U.S. and is a leading insurer in Canada. In addition to providing auto insurance quotes, their 17,800 agents and more than 65,000 employees serve 81 million policies and accounts - more than 79 million auto, home, life and health policies in the United States and Canada, and nearly 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is also available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 43 on the Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com or in Canada http://www.statefarm.ca.