State Farm is slashing its auto insurance rates for customers in the state of Illinois.
The overall personal auto insurance rate will go down by 2.9 percent, with an overall $65 million in projected savings for customers.
“The company’s current financial strength is allowing us to pass along a rate reduction to our Illinois customers," said State Farm Senior Vice President Rob Stewart. “We continually evaluate how we can best serve our customers and are very pleased to be able to offer this rate decrease in Illinois.”
Changes in individual policies will vary. The effective date for new and renewal business is May 7. Illinois customers can contact their State Farm agent with questions.