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.
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