Like a Good Neighbor, State Farm is there. We are here to help make this new normal feel just a little more normal. If you are a customer currently facing financial burdens, call your State Farm agent. We have adjusted our face-to-face protocols, and are offering virtual claim inspection options in most states if legally permitted, as well as a variety of virtual and digital tools for customers to connect with their State Farm agent.Īs the situation continues to evolve, we are making decisions that balance health concerns with our continued commitment to serve you. Continuous innovation and adaptation have positioned State Farm as the insurance industry leader. We are committed to the health and safety of our customers, employees and agents, and the communities where we live and work. In September, we also reduced business owner premiums across the country by an average of 7%, which provided $54 million in savings for more than 400,000 commercial policy customers. Together, these two actions returned approximately $4.2 billion in savings to our customers. A month later, we announced we would be cutting auto rates in every state. In April 2020 we adjusted to reduced driving and claims trends driven by COVID-19 and announced our Good Neighbor Relief Program, providing a dividend/credit to auto insurance customers. You can talk to your State Farm agent to learn more and sign up. While the Drive Safe & Save™ discount will vary, users will always get a discount at each renewal. With driving behaviors factored in, customers save, on average, between 10%-15%, and could save up to 50%. In most states, the initial discount customers get just for participating in Drive Safe & Save was recently doubled to 10%. Our approach is to make incremental adjustments based on driving behaviors to help minimize the impact to customers.ĭrive Safe & Save™ customers have the opportunity to directly influence their auto rates based on their driving habits. The timing and amount of these changes will vary by state and the timing of your individual renewal.Įven with these changes, auto rates remain below pre-COVID-19 levels. In response, we are making adjustments to rates at the next renewal cycle, which begins in January 2021 to reflect these trends. Our data indicates more people are driving, resulting in more auto claims. We are continuously monitoring and adjusting to trends to make sure we’re accurately matching price to risk. We know COVID-19 continues to impact our customers and their driving behaviors.
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