Winter Haven — State Farm Florida current and future home insurance customers will be saving money. Effective May 15, 2019, for new business and July 1 for renewals, State Farm Florida is reducing its Home Insurance rates by an average of 14.4 percent. The total state-wide expected savings impact for State Farm customers by this rate decrease in Florida will be approximately $95.9 million.
“We’re always evaluating how we can best serve our customers and are very pleased to be able to offer this rate decrease in Florida” said Dan Krause, State Farm senior vice-president. “Stable non-catastrophe loss trends, improving expenses and losses, along with State Farm Florida Financial strength were important factors, among many, that supported our decision to make this rate change.”
Overall changes in premiums for individual homeowners will vary depending on the specific details of an individual customer’s policy and chosen coverages. Customers with questions can contact their local State Farm agent to discuss their individual situation.
In addition to this rate reduction, State Farm agents are able to review with new and existing customers the many opportunities for additional discounts that may apply to an individual’s unique circumstances. A rate decrease combined with discounts offers an exceptional long-term value to State Farm customers.