State Farm Fire & Casualty’s more than...

State Farm Fire & Casualty’s more than 1 million homeowners insurance policyholders in California will share in nearly $33.2 million in rate reductions that began Friday. Policyholders who have been insured with State Farm three years or longer will share in the bulk of the decrease through a new discount program to be announced today. Those insured for at least three consecutive years will receive a 5% discount, while those insured for six years or longer will get a 10% discount. These discounts--amounting to $23.8 million for more than 686,000 California policyholders--are in addition to an overall statewide decrease.