State Farm announced on Mar. 10 that it has implemented a new auto insurance rate decrease for its customers in South Carolina, resulting in an average reduction of more than 8 percent. The change, which took effect on February 16, applies to both new and existing policyholders.
The company said the overall reduction will lower total annual premiums by over $127 million for private passenger car customers in the state. On average, this translates to more than $100 in savings per vehicle. State Farm noted that these changes amount to a combined auto rate decrease of approximately 14 percent over the past year for drivers in South Carolina.
“We are pleased to help our customers save money, combined with the personalized attention of our local agents and first-rate customer service,” said State Farm Senior Vice President Allyson Watts. The company attributed the ability to lower rates to recent trends showing less costly automobile damage claims…