State Farm Says Nebraska Car Insurance Rates 18% Lower Over a 4 Year Period
Today State Farm announced that in 2007 car insurance rates for the average Nebraska customer were 18% lower than 2003. As an average, State Farm’s car insurance rates had fallen 15% in the same time frame for all customers across the U.S.
What does this say for the rest of the country? According to State Farm, since accidents are on the decrease (however, this is contradictory to what Warren Buffet just announced a few days ago), the savings can be passed on to the customer.
Not sure what to make of the conflicting reports of accidents and overall increasing costs by 2 VERY large insurance companies, other than to surmise that State Farm already has a stricter underwriting standard than insurers in the Berkshire Hathaway portfolio (which is true for at least one of the major holdings). An increase in accidents should affect every company, so if that’s truly the case, look for insurance rates to eventually go up in the future for low cost carriers that accept all types of drivers, and possibly stabilize for larger carriers like State Farm with stricter underwriting policies.
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my state farm agent is the best. And I find that with all of the other insurance companies that say how they are going to offer lower car insurance rates, yet have bad service, this is where State Farm really shines.
It’s great to see rates dropping for people all over the U.S. because State Farm really does have a great insurance program and their agents are second to none.
…agree with the above post. State Farm is a great company and their agents are leaps and bounds better than the average car insurance agent.
I think a water tower is the highest point in Nebraska.
Nebraska? What about NE is expensive? I think I’ve spent enough time there to know gas is cheap, food is cheap, so why wouldn’t car insurance be chep?
so what about Oregon or California, or any of the west coast? Our rates suck
state farm only claims lower rates because they jack them up in the first place. You’re talking a premium insurance company and they don’t take just anybody.