Miss. Approves 2.9% State Farm Auto Insurance Rate Cut

In less than 30 days, a number of Mississippi automobile insurance policyholders could see a premium rate reduction of up to an average of 2.9 percent as the result of a rate filing approved by Commissioner of Insurance Mike Chaney.

The premium reductions for renewals and new business were filed by State Farm Mutual Automobile Insurance Co. and State Farm Fire
and Casualty Co. and will become effective June 23, 2008.

Chaney credited improvement in accident frequency as a factor in the rate reductions.

Source: Mississippi Insurance Department
www.mid.state.ms.us