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State Farm files for 10% auto insurance rate cut in Florida
State Farm, one of Florida’s largest auto insurers, has filed to lower auto insurance rates by 10% for drivers across the state.
State Farm announced Thursday that its latest price drop will reduce costs by more than 20% on average since October 2024.
Coverage, Cost and Trends ...
State Farm explained that the reductions are due to legislative changes in Florida, enabling them to lower costs for policyholders.
The insurer, one of Florida’s largest auto insurers, filed for 10% rate cuts a week after state insurance regulators warned companies to report excess profits.
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