State Farm to Cut Auto Insurance Rates in South Carolina

State Farm Mutual Automobile Insurance Companies, the largest auto insurer in South Carolina, will cut its auto rates in the state for the second time in two years, according to a statement from the insurer.

Overall personal auto rates will drop by 4.4 percent with the total statewide expected impact for State Farm Mutual by this rate decrease in South Carolina will be a savings of approximately $35.9 million.

According to State Farm Vice President-Agency Becky Blevins, improving expenses and losses were important factors, among many, that supported the company’s decision to make this rate change.

Overall changes in premiums for individual motorists will vary depending on the specific details of an individual customer’s policy and chosen coverages. The effective date for new and renewal business is March 18, 2019. Customers with questions can contact their local State Farm agent to discuss their individual situation.

In addition to this rate reduction, State Farm agents are able to review with new and existing customers opportunities for additional discounts that may apply to individual policyhodlers.

State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its nearly 19,000 agents and approximately 65,000 employees serve approximately 83 million policies and accounts – approximately 81 million auto, fire, life, health and commercial policies and approximately 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies.

Source: State Farm Mutual Automobile Insurance Companies