State Farm reveals massive savings

State Farm reveals massive savings

Earned premiums, however, were nearly identical, amounting to $ 41.3 billion from $ 41.5 billion in 2019. The drop in earned premiums of $ 200 million came despite an increase in market share. – what the insurer attributed to its “focus on returning value to customers in the form of lower overall premiums”.

State Farm said it has reduced premiums by 11% on average nationwide, saving customers a total of $ 2.2 billion over a six-month insurance period. The company also paid $ 1.9 billion in dividends to its automotive customers.

“We are trying to help more people in more Said Jon Farney, Senior Vice President, Treasurer and CFO of State Farm. “In an unprecedented year like 2020, we are focusing on our hearts…

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