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State Farm to reduce personal auto insurance rates in Alabama

State Farm Mutual Automobile Insurance Co. is set to reduce personal auto insurance rates in Alabama by 3%, the Insurance Journal reported.

According to State Farm Senior Vice President Dan Krause, the decrease is due to the company's strong financial position and business and economic conditions in the marketplace. The effective date for new and renewal business is June 11 and overall changes in premiums will vary depending on the customers' chosen coverage.