Farmers to Cut Auto Rates an Average 3%

Farmers Insurance Group said it will cut its auto insurance rates in California by an average of 3% on Jan. 1. The action, which will affect 2 million California motorists, in part reflects lower-than-expected bodily injury costs and increased efforts to prevent fraudulent auto claims. Los Angeles-based Farmers said the rate reduction will vary depending on a policyholder’s driving record, limits on coverage and other factors.