State Farm sending $5 billion
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State Farm Mutual Automobile Insurance Company has announced a $5 billion policyholder dividend for its auto customers, marking the largest distribution in the company’s history. The move follows recent rate reductions that the carrier says are already delivering $4.6 billion in annual premium savings across multiple states.
The payments average $100 per vehicle, State Farm said in a statement. It’s the largest dividend in the company’s 103-year history.