According to State Farm Insurance spokesperson the company is about to lower its auto insurace rates by 10.1 percent. Also their home insurance is to be lowered by 20 percent in total.
State Farm is is the larges vehicles and homes insurer in California therefore the amounts of savings passed to their customers will be substantial - totalling $489 million and including $259 million paid to vehicle owners and $230 millions to home owners.
According to Insurance comissioner John Garamendi these rate cuts are to start taking effect in April.
