State Farm Mutual Automobile Insurance, which covers about one in every three cars in Louisiana, is raising insurance rates for drivers.
The company announced that the increases will average 3.4 percent, starting Feb. 17. Going up will be premiums for liability, collision and comprehensive coverage.
State Farm spokesman Gary Stephenson says the average increase per insurance policy will be about $35 per year.
He says premium changes will depend on the type of coverage, individual discounts, the kind of vehicle insured, the hometown of the driver and other factors.
Commissioner of Insurance Jim Donelon agreed to the rate increase, according to his spokeswoman.
Topics Auto Louisiana State Farm
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Fla. Commissioner Offers Major Changes to Citizens’ Commercial Clearinghouse Plan 
Judge Tosses Buffalo Wild Wings Lawsuit That Has ‘No Meat on Its Bones’ 
Experian Launches Insurance Marketplace App on ChatGPT From This Issue
