For the third time in two years, State Farm Mutual Automobile Insurance Co. will cut its rates in Hawaii, the company announced.
This results in an overall personal auto rate of 2.6%. State-wide, the rate decrease in Hawaii will be approximately $3.8 million.
Last time there was an auto rate change in Hawaii, it was to the tune of a 3% drop in November of 2018. These combined decreases will save Hawaii customers approximately $10.1 million.
The overall changes in premiums vary, and the effective date for new and renewal business is July 22.