Effective March 17, 2008, State Farm Mutual Automobile Insurance Co., the largest auto insurer in West Virginia, will be lowering rates on auto insurance in that state enough to save its customers $14 million a year, which represents an average overall reduction of 4.9%.

A representative from State Farm told the press that when this latest reduction takes effect, the overall insurance rate level in West Virginia will be 17.6% lower than it was in 2005, when Governor Joe Manchin signed a series of legal and insurance reforms into law. This rate reduction was reviewed and approved by the West Virginia Insurance Commissioner.

State Farm went on to say, "Overall premium changes for individual motorists will vary depending on factors such as the coverage they carry, the discounts for which they qualify, where they live, the kind of vehicle insured, who drives it and how much it is driven," State Farm said."

According to State Farm, they insure roughly 25% of all vehicles in the state of West Virginia, or about 370,000 cars. As well, they are the insurer for roughly the same percentage of West Virginia homes.

State Farm is represented in West Virginia by 171 direct employees and 144 independent contractors, who, in turn, have 497 employees in the state.