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Looks like starting July 1st, 2005 State Farm customers will start seeing a decline in their Car Insurance premiums.

State Farm customers can expect to see their premiums go down starting July 1st. Americans now pay on average $870 a year for insurance per vehicle. But you might see your auto insurance bill go down soon.

Al Hatcher, with State Farm Insurance, says, "We're hoping to see anywhere between a 3% and 15% discount on auto insurance."

State Farm insurance, the nation's largest underwriter, cut rates in 32 states including Georgia. More insurance companies are revving up competition for customers. "There's a lot of insurance companies. A lot of the 1-800-companies start getting a bulk of the businesses," Hatcher said.

State Farm discounts will save their customers $13 million a year. The discounts will take effect July 1st. "You don't have to make any calls. Your discounts are already put in there," Hatcher said.

Source: WALB TV

Other insurance companies will also begin to offer discounts. Since 2000 car insurance premiums have been on a steady rise, and only recently has there been great competition in retaining customers. Remember, you can lower your premiums even further by having multiple insurance policies for your home, life, etc.