Original source: http://www.ldi.la.gov/news/press-releases/9.6.19-donelon-announces-fourth-statewide-auto-insurance-rate-reduction-by-state-farm
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Louisiana Department of Insurance (09/06/19)
Pursuant to a rate Bill by State Farm Mutual Insurance Company, Louisiana Insurance Commissioner Jim Donelon Declared that the Insurance Company has Full for a statewide average of Decrease in premiums of -2.6 Percent.
Donelon affirmed the press release regarding the reduction of State Farm while the rate filing remains pending review. “As Louisiana’s market leader in automotive coverage, this fourth reduction of -2.6percent by State Farm reflects the effects of genuine competition from the Louisiana car insurance marketplace,” said Donelon. “Taken together with its three previous reductions, State Farm has requested rate discounts of -10.4percent in only over a year, which is excellent news for many Louisiana consumers.” This decrease continues the tendency of diminishing premiums by lots of Louisiana insurers which contains Progressive along with Louisiana Farm Bureau. State Farm’s recent decrease, that is pending approval for new and supporting clients, is anticipated to be implemented by Nov. 25, 2019, also affects 1,014,960 policyholders…. Read More
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