State Farm Mutual Automobile Insurance Co. is cutting auto rates in Louisiana by 2.1 percent effective Feb. 2 and the Property Casualty Insurers Association of America thinks the company’s plan proves the ¾ex band law passed two years ago is effective. State Farm Mutual insures about one out of every three cars in Louisiana. The reduction represents about $19.3 million in premiums paid annually by the company’s Louisiana customers, the Associated Press reported. Customers will see the largest decreases for collision and comprehensive coverage, which pays for such losses as theft, storm damage, fire, vandalism and broken glass.
Was this article valuable?
Here are more articles you may enjoy.
AI Claim Assistant Now Taking Auto Damage Claims Calls at Travelers 
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk From This Issue
