State Farm is doling out $100 checks to 49 million customers. Here’s who qualifies and how to get paid

Have a car insured by State Farm? The nation’s largest auto insurer said it will soon send out payments averaging about $100 per vehicle to nearly 50 million customers in what the insurer is describing as a one-time customer giveback tied to its recent financial performance, the company announced Thursday.

State Farm can offer these paybacks thanks to the largest dividend in the company’s history. As a result, the entire pool for customer paybacks is $5 billion.

The move comes...