State Farm to Cut Auto Rates by 5.5% in West Virginia

State Farm Mutual Automobile Insurance Co. said it plans to cut overall personal auto rates in West Virginia by 5.5%. The expected total statewide impact for State Farm Mutual by this rate decrease in West Virginia will be approximately $17.7 million, the insurer said in a statement.

State Farm’s last overall rate change in West Virginia was a decrease of 3% in August of 2018.

According to State Farm Senior Vice President Chris Schell, the largest auto insurer in West Virginia was able to offer the rate decrease thanks to lower than expected expenses and losses.

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 May 27, 2019.

West Virginia customers with questions can contact their local State Farm agent to discuss their individual situation.

In addition to this rate reduction, State Farm agents can review with new and existing customers opportunities for additional discounts that may apply to an individual’s unique circumstances.

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.

Source: State Farm