State Farm To Raise Auto Rates Statewide
BATON ROUGE, La. (AP) — Auto insurance rates will rise an average of 4.4 percent beginning Dec. 8 for Baton Rouge customers of State Farm Mutual Automobile Insurance Co.
State Farm is Louisiana's largest auto insurer, covering about one in three vehicles. The company said it will increase auto premiums for liability, collision and comprehensive coverage. Comprehensive covers losses from theft, storm damage, fire, vandalism and windshield damage.
The Advocate reports State Farm's auto rates will rise an average of 3.7 percent statewide.
The auto rate increase will generate $40.4 million annually from State Farm's 1 million customers.
New Orleans customers will see their rates rise an average of 5.7 percent.
Insurance Commissioner Jim Donelon has said Orleans motorists paid 40 percent more for auto coverage than the average statewide.