The Commissioner of Mississippi Insurance companies has approved a large rate decrease for customers in Mississippi, according to a press release from the agency.
From the MID:
JACKSON, Miss. – Mississippi Insurance Commissioner Mike Chaney announced Tuesday, February 19th that he has approved an 11.2 percent decrease in rates for State Farm automobile insurance consumers.
“This rate decrease is good news for consumers
in our state,” said Commissioner Chaney. “Competition and market share
have turned around proposed rate increases by many companies, including
State Farm. Additionally, new technology used
in automobiles and in driver education by insurance companies has
driven down prices for consumers.”
Some consumers have already seen a rate decrease of
7.6 percent. The remaining decrease will take effect in the coming
months, for a total 11.2 percent decrease. The Mississippi Insurance
Department expects other companies to follow State
Farm’s lead.
Jon Ross Myers is the executive editor and publisher of the Mississippi News Network, Mississippi's largest digital only media company. He can be reached at editor@tippahnews.com
