Good news, Farmers Mutual customers!
As part of Farmers Mutual of Nebraska’s COVID-19 response plans, the company will decrease its auto insurance rates 10% on all new and renewal business with an effective date on or after July 1, 2020. (Subject to regulatory approval.)
The company based the discount on actuarial reviews that noted a downward trend in non-storm losses and claim counts during the past eight weeks of the pandemic, a trend that is expected to continue for months into the future.
Offering a rate reduction rather than a temporary premium credit, “is far more generous, actuarily sound and reflective of the true change in the Automobile exposure due to COVID-19,” Farmers Mutual management said.