LANSING — As of March 25, Michigan residents who have insure their cars with State Farm might see their auto insurance rates go down.
State Farm Mutual Automobile Insurance Companies announced it will cut its rates by 3.5 percent in Michigan.
The total state-wide expected impact for State Farm Mutual will be a savings of approximately $48.4 million by this rate decrease.
This comes as state lawmakers debated legislation that aims to lower rates and could impact no-fault laws, yet State Farm said politics had nothing to do with the decision.
Kelly O’Brien, State Farm’s vice president- agency/sales, said State Farm is always evaluating how it could best serve customers and that the company is very pleased to offer this rate decrease in Michigan. Improving expenses and losses were important factors, among many, that supported the decision to make this rate change.