Just weeks after announcing an automobile insurance rate decrease, the largest home insurer in West Virginia says it will lower rates statewide for home insurance as well.
State Farm Insurance spokeswoman Erin Bailey says the average West Virginia policyholder will see a rate decrease of seven-point-two percent starting July First. The savings will vary for each policyholder depending on the policy. Bailey says that means some rates may actually go up and encourages policyholders to contact their agents to inquire about applicable discounts.
In total, the company says its 100-thousand-plus West Virginia homeowners policyholders would save about five million dollars a year. The insurer covers about 25 percent of all the insured homes in the state.
Earlier this month, State Farm announced it will be lowering its overall auto insurance rate level in West Virginia an average of two-and-a-half percent. That change goes into effect July Second.