BLOOMINGTON, Ill. (WMBD) — State Farm announced that it will be cutting its auto insurance rates in Illinois by 13.7% Monday.
State Farm said the changes were made due to changes in driving habits caused by the COVID-19 pandemic. The rate reduction will save over 2 million State Farm customers $320 million.
State Farm Senior Vice President Rob Stewart said their numbers show a recent decline in accidents.
“Current State Farm driving data and claims experience show a considerable decline in miles driven and fewer accidents,” Stewart said. “As a result, we’re looking for ways to continue supporting our Illinois customers while we monitor and adjust to trends.”
State Farm said the reduction will vary between customers based on their individual renewals.
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