car company insurance texas

State Farm Cuts Auto Rates By 5.4 Percent

Mar. 21--State Farm auto insurance customers can expect a 5.4 percent statewide average decline in premiums -- with First Coast customers enjoying savings of up to about 10 percent. The lower rates, which will go into effect Monday, represent an annual savings of $135 million to the company's Florida customers. State Farm Mutual Automobile Insurance Co., which bills itself as the largest auto insurer in the Sunshine State, said it covers one in every five cars insured in Florida. Tuesday's rate reduction announcement, which reflects lower losses State Farm expects from its auto customers, comes about a month after the company said it would slash auto premiums by a statewide average of 16 percent once the Florida No-Fault law ends. Northeast Florida customers would see savings of about 12 percent to 17 percent on their auto policies.