State Farm would cut car insurance rates if no-fault expires

WINTER HAVEN, Florida (AP) — State Farm says it will cut its car insurance rates by about 16 percent if the state's no-fault accident system ends in October as scheduled.

In a state regulatory filing, State Farm says its customers can expect to save about $360 a year on average for a two-car household if the state's no-fault auto insurance system isn't retained by state lawmakers. The individual changes will vary widely depending on coverages, discounts, geography and driver and car details.

The no-fault system requires drivers to get $10,000 in personal injury protection coverage, but puts restrictions on people's right to sue if they are hit in an accident and injured.

The system was meant to try to lessen the number of lawsuits. But some insurance companies say it has been beset with fraud.