State Farm announces record $5 billion dividend
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State Farm, the nation's largest auto insurer, is lowering insurance rates and issuing an average dividend of $100 per vehicle to policyholders.
The Bloomington insurance giant said it will pay $5 billion back to automobile insurance customers starting this summer.
2don MSN
State Farm announces $5 billion dividend; $100 average refund coming to car insurance customers
Customers can expect to receive $100 refund on average, though State Farm says it will vary by state and by the amount of premium paid.
Refund amounts for State Farm customers will vary based on their place of residence and insurance premiums.
Scott Nyerges is a former senior editor and content strategist at U.S. News & World Report, where he led coverage of car insurance and other personal insurance lines. He's also served as a managing editor for Consumer Reports and news programmer for MSN.
State Farm scored 3.9 out of 5 stars in our analysis of car insurance companies. It offers lower-than-average rates and especially good deals for bundling and young drivers. The company has high customer satisfaction ratings and a low level of complaints.
State Farm auto insurance rates by driver profile State Farm generally offers lower rates for drivers regardless of their driving history, including those with a speeding ticket or an at-fault accident. However, drivers with poor credit are an exception. On average, State Farm charges some of the highest premiums in the industry for this group.