Lower-than-expected claims have enabled State Farm to trim premium costs for its policyholders in the Peach State. The largest automobile insurer in Georgia reports that it will decrease rates by an average of 1.5 percent on a state-wide basis.
The overall rate level reduction, which will impact premium pricing for liability, medical payments, collision, and comprehensive coverages, will go into effect on August 17. Premium changes for individual motorists will vary based on several factors. However, State Farm notes that the reduction will equate to an annual savings of $15.9 million for all of its policyholders in Georgia.
Source: Atlanta Business Chronicle