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State Farm Returning $400 Million Dividend to California Auto Customers

 

On average most customers will receive a $100 check per policy

(March 10, 2021) – Due to better than anticipated claim results, State Farm is returning $400 million to California mutual auto insurance customers. The dividend applies to approximately 3.5 million private passenger

auto policies in California. Through this dividend, customers can expect to receive a check of 18% of

premium, or averaging about $100 per policy, for the time period June 1 to December 31, 2020.

“State Farm is once again returning value to our California customers while remaining financially strong to keep our promises now and in the future,” said Tom Conley, Sr. Vice President, State Farm. “This additional dividend is another way we’re making adjustments based on driving behaviors to minimize impacts and help our customers.”

Last year, State Farm announced the Good Neighbor Relief Program, which included a dividend for the period of

March 20 to May 31, 2020 as well as auto rate cuts in every state. Together, these actions provided $4.2 billion in savings for State Farm customers. California State Farm auto customers received an average 27.5% dividend and 6.5% auto rate reduction.

Customers do not need to take any action to receive this dividend, which will be mailed in the form of a check as early as May.

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