The Louisiana Insurance Rating Commission approved automobile insurance rate increases for State Farm Group that were less than those originally requested by the insurer.
According to A.M. Best regulators approved a 14 percent increase for State Farm Mutual Automobile Insurance Co., which provides coverage for about 91 percent of the company’s 1.05 million auto insurance customers. The remainder of State Farm’s auto customers mostly high-risk drivers, are covered by State Farm Fire & Casualty Co., which received approval for a 19 percent rate hike.
State Farm originally sought a 16 percent rate hike for State Farm Mutual and a 20.9 percent increase in rates for State Farm Fire & Casualty customers.
Topics Trends Auto Louisiana Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
The Top 15 U.S. Metros with High Exposure to Wildfire Risk 
Biden Vetoes Bid to Repeal US Labor Board Rule on Contract, Franchise Workers 
Fannie and Freddie Hit Pause on Replacement-Value Requirements for Home Insurance 
Everton FC Buyer Accused of Fraud, Double-Pledging Assets in Lawsuit 
