BATON ROUGE, La. (WAFB) - More drivers in Louisiana are going to see lower car insurance rates.
Insurance Commissioner Jim Donelon announced that Louisiana Farm Bureau is "following the downward rate trend" and has requested a -4.4% rate decrease on over 220,000 automobile policies.
“Louisiana Farm Bureau’s request for a rate reduction is further indication of the downward trajectory for auto rates in Louisiana,” said Commissioner Donelon. “In the last year, three of the top auto insurers in our state have sought rate decreases for Louisiana drivers. This reduction, along with those previously taken by State Farm and Progressive, further confirms that automobile insurance competition in Louisiana is moving premiums in the right direction.”
Louisiana Farm Bureau is the sixth-largest auto insurer in Louisiana and this rate decrease will mean lowered premiums for over 1,500,000 automobile policyholders when combined with the earlier reductions taken by State Farm and Progressive. The reduced rates are projected to take effect August 1, 2019 for new and renewed policies.