State Farm announces $2 billion rebate for its auto insurance customers

Aries

Administrator
State Farm said Thursday that it will return $2 billion in auto insurance premiums to its customers because fewer motorists are on the road as a result of the new coronavirus.
Most policyholders will get a 25% policy credit for the weeks between March 30 and May 31, the Bloomington-based insurer said.

“State Farm is returning value through a dividend to our customers,” State Farm Chairman, President and CEO Michael L. Tipsord said in a statement. “We insure more cars than anyone and we see from our claims activity people are driving less. This dividend is one of the ways we’re working to help our customers during this unprecedented situation.”

 
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