In total, State Farm will return $2 billion worth of dividends to customers beginning on their June bills.
The State Farm Mutual Automobile Insurance Company has announced that it will apply up to a 25% credit to customers’ bills because there are fewer cars on the road as people drive less during the pandemic. Those fewer cars mean fewer accidents, which means fewer payouts—and thus fewer costs to the company. Instead of pocketing those savings for themselves, however, State Farm will instead return them to customers. Here’s what you need to know:
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