State Farm Mutual Automobile Insurance, which covers about one in every three cars in Louisiana, is raising insurance rates for drivers.
The company announced on Jan. 17 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.
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Florida Insurance Costs 14.5% Lower Than Would Be Without Reforms, Report Finds 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
