BATON ROUGE (AP) — Auto insurance rates will rise an average of 5.7 percent for New Orleans customers of State Farm Mutual Automobile Insurance Co., beginning Dec. 8.
State Farm is Louisiana's largest auto insurer, covering about one in three vehicles. The company said it will increase auto premiums for liability, collision and comprehensive coverage. Comprehensive covers losses from theft, storm damage, fire, vandalism and windshield damage.
The Advocate’s Ted Griggs reports State Farm's auto rates will rise an average of 3.7 percent statewide and 4.4 percent for Baton Rouge customers.
The auto rate increase will generate $40.4 million annually from State Farm's 1 million customers.
Insurance Commissioner Jim Donelon has said Orleans motorists paid 40 percent more for auto coverage than the average statewide.
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