JACKSON, Miss. (WJTV) – Mississippi Insurance Commissioner Mike Chaney approved a 4% decrease in rates for State Farm home insurance customers.

The rate decrease will go into effect on January 1, 2020, for new businesses and March 1, 2020, for renewals.

“This is the third rate decrease for State Farm homeowner rates in the last 4 years,” said Commissioner Chaney. “It is good news for consumers that competition and market share continue to result in lower rates.”

Premiums could vary person-to-person based on the homeowner’s policy and chosen coverages.

Customers with questions can contact their local State Farm agent to discuss their individual situation.