State Farm’s $5 Billion Auto Insurance Dividend: $100-per-car payouts and rate cuts hit 40 states
State Farm Mutual Automobile Insurance Company plans to distribute a one-time $5 billion dividend to eligible auto policyholders, following a string of rate reductions in 40 states that the company says are saving drivers around $4.6 billion each year. The mutual insurer estimates payments will come out to roughly $100 per vehicle, covering more than 49 million insured cars. “As a mutual company with a customer-first focus, State Farm Mutual is able to provide value directly to our customers,” said CEO Jon Farney.
