State Farm Reduces Insurance Rates
April 4 2005
Although your insurance rate is calculated by a number of factors: age, type of car, location of residence, driving and credit records, number of miles annually driven, the type and limits of insurance policies, etc., sometimes an overall average rate reduction to most drivers may be announced by an insurance company.
In a notable effort to address insurance rates, recently State Farm Auto Insurance announced such an average rate reduction in North Carolina for its drivers. As a result of revising a number of its auto insurance discounts, State Farm spokespersons announced that it was lowering its overall rates in NC by an average of 7.1 percent. The State Farm policies that will see the most noticeable rate reductions will be the liability, medical payments, and collision policies.
Since State Farm is a major auto insurer, its reduction will positively affect the average rate reductions in North Carolina. State insurance officials estimate that the State Farm's rate reductions would help lower the average rate in North Carolina by 13.8 percent from seven years ago. This is a significant reduction that will positively impact the consumer in that state.