More than 2 million Georgia drivers will see lower auto insurance costs after State Farm received approval for another rate reduction in the state.
The Office of the Insurance and Safety Fire Commissioner confirmed that State Farm Mutual Automobile Insurance Co. was granted a 3% personal auto rate cut, bringing the company’s total average decrease in Georgia to 10% over the past year. State Farm Fire and Casualty Co. also secured approval for an additional 1.5% rate reduction, according to InsuranceBusinessMag.com.
State Farm estimates that since December 2024, its lower rates have saved policyholders roughly $400 million annually, or about $190 per insured vehicle. The reductions are attributed to fewer physical damage claims and statewide legal and insurance reforms.
Insurance Commissioner John King said recent tort reforms — including limits on third-party litigation funding and revised rules for attorney fees and medical billing — have helped create a more stable insurance market. He credited fraud-prevention efforts and legislative changes for helping deliver more affordable premiums.
State Farm senior vice president Allyson Watts said the company is committed to helping customers save while maintaining strong agent support and customer service.
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