State Farm cuts rates for Ohio drivers
March 23, 2007 - COLUMBUS, Ohio (AP) - Ohio's largest auto insurer is dropping rates by an average eight-point-eight percent.
State Farm says its Ohio policyholders also will receive rebate checks averaging 36 dollars. A spokeswoman says it's able to give customers that one-time break thanks to the firm's financial strength and good business conditions.
About one out of every five cars in Ohio is covered by State Farm.
Other insurers are likely to follow the company's lead. An industry group says auto insurance rates are falling nationwide because of fewer accidents, safer vehicles and a decline in fraudulent claims.