State Farm customers could soon find a check in the mail, according to News 12 New York. Anyone who was a State Farm customer at any point last year may be eligible to receive money back from the insurer in the coming months.
The payout comes after the company reported a better than expected year. As a result, State Farm is giving some of its surplus money back to its customers.
According to the report, the insurer is mailing out 3.8 million dividend checks this week. The mailing marks the start of the distribution to eligible policyholders.
The checks are part of a much larger effort by the company. In total, the payout amounts to 5 billion dollars being returned to customers.
Not everyone will qualify for the money. The customers eligible for the dividend are those who held a State Farm policy between January and December of last year.
For those who do qualify, the amounts are modest but broadly spread. The average refund works out to about 100 dollars per vehicle, the station reported.
Customers who are set to receive the money will be told how it is coming. According to the report, they will either be notified by email or simply receive a check directly in the mail.