This may be the first story you have read in a long time where a car insurance company is voluntarily lowering premiums. State Farm is lowering its rates in Georgia by an average of 2.2 percent effective November 21, 2011. The move will save drivers across the state a total of $23.2 million.
Additionally, the Georgia Insurance and Safety Fire Commissioner’s office said the rate cuts are not part of any state mandates or requests. ”No pressure was applied by the Georgia Insurance Department to State Farm; this was a market decision that they made on their own,” a spokesman for the commissioner said. ”At this time, no other major insurers in Georgia have taken such an action, but our department is hopeful that this is a trend.”
State Farm rates have been steadily dwindling in Georgia. After this rate change, State Farm’s rates in Georgia will be 11.9 percent lower than they were 7.5 years ago. This is fantastic news for Georgia car loan shoppers.
Thank you to State Farm and a question. How about the rest of the country?