Farmers Gives Colorado Customers A Break

Farmers Gives Colorado Customers A Break

NU Online News Service, March 8, 3:20 p.m. EST?Farmers Insurance Group said it plans to lower rates for its auto customers and increase discounts on some of its insurance plans in Colorado.[@@]

The Los Angles-based insurer said yesterday that it plans to reduce rates for its auto customers by an average of 3.2 percent. The reduction will go into effect April 1.

Some customers, depending on their location, could see savings of as much as 20 percent, the company said.

In addition to the proposed rate decrease, Farmers said it would increase multiple coverage discounts, increasing the Auto/Home Discount from 10 percent to 12 percent and increasing the Auto/Home/Life Discount from 13 percent to 17 percent.

"This gives us one of the highest home/auto discounts in the industry," said Rion Groves, Farmers' Colorado State Executive Director in a statement. "We want our multi-policy households to receive the benefits of allowing Farmers Insurance to meet all of their insurance needs," he added.

Farmers said it insures over 470,000 autos in Colorado and is the state's second largest auto insurer.