State Farm cutting auto rates for Illinois drivers

Posted on January 25, 2019
State Farm has announced it will be decreasing rates by 2 percent for Illinois drivers starting March 18. (WJBC File Photo)

 

By Neil Doyle

BLOOMINGTON – Drivers insured by State Farm in Illinois will be seeing a decrease in auto rates for the second straight year.

State Farm has announced it will be cutting auto rates by 2 percent for Illinois customers, effective March 18.

“The decrease this year is based upon lower than expected expenses and losses and that is what helps us determine rates,” said spokesman Dave Oloffson.

In 2018, Illinois drivers received a 2.9 percent cut from the company, which insures one of every three vehicles in the state.

“We are continually trying to find ways to add value to the customer,” said Oloffson.

State Farm customers in neighboring states are also seeing decreases.

Crain’s Chicago Business reports that State Farm in Indiana is cutting auto rates by 4.6 percent and Wisconsin rates by 2.9 percent.

Neil Doyle can be reached at [email protected]

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