Jon Farney Announces $5B State Farm Dividend and Auto Rate Cuts

State Farm will issue a historic $5B dividend to auto insurance customers this summer following a period of improved underwriting performance and falling repair costs.Jon Farney announced the $100 average payout for 49M vehicles alongside a 10% rate reduction that follows years of premiums surging by over 50%.While Florida Governor Ron DeSantis credited state reforms for local savings, the insurer warned that homeowners insurance remains costly due to storm frequency.