Once again State Farm is cutting auto rates in Tennessee. Starting today, those insured with the company or those shopping for insurance will see a decrease.
The overall personal auto rate will drop by 2.8 percent. Statewide, customers of the state's largest insurer will realize total savings of approximately $24.6 million.
The effective date for new and renewal business is September 30. The previous rate change in Tennessee was effective in April 2019. Combined, the two auto rate decreases will save Tennessee customers 68.5 million dollars.
“State Farm is very pleased to be able to offer another auto rate decrease in Tennessee” said State Farm Senior Vice President Dan Krause. “Improving expenses and losses were important factors, among many, that supported our decision to make this rate change."
Overall changes in premiums for individual motorists will vary. Rates depend on a customer’s policy and chosen coverage. Customers can contact their local State Farm agent to discuss their individual situation. Additional opportunities for discounts may apply.
A rate decrease combined with discounts offers exceptional long-term value to State Farm customers.