Farmers Insurance Group is reducing auto rates in the state of South Dakota.
As early as March, Farmers customers with full coverage in South Dakota could see their collision and comprehensive rates reduced up to 14 percent and 12 percent, respectively, for those coverages.
“We are pleased we can give something back to our customers. This rate reduction plus the increased discounts will add up to more savings for our customers,” said Betsy Nealon, Farmers’ South Dakota state executive director.
The increased discounts Nealon noted are multi-line discounts. Farmers policyholders with both an auto and life policy with Farmers can receive an auto premium discount of up to 5 percent. Effective March 1, the discount for auto policyholders who also insure their home with Farmers could increase to as much as 12 percent. Also effective March 16, those policyholders who insure only their home and life with Farmers will receive up to a 5 percent discount on their homeowners premiums. Policyholders who insure their auto, home, and life with Farmers could receive a discount of up to 20 percent.
“Improved loss results and a favorable regulatory environment have allowed us to pass the savings on to the customer,” added Nealon.
Farmers Insurance is the third largest insurer in South Dakota, with more than 33,000 autos and 13,000 homes insured.
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