Auto insurance rates will rise an average of 3.7 percent beginning
Dec. 8 for customers of State Farm Mutual Automobile Insurance Co.,
which insures about one in three vehicles in Louisiana.
Rates for motorcycles and recreational vehicles will decrease by
0.1 percent, the company said.
The state's largest auto insurer said it will increase auto premiums
for liability, collision and comprehensive coverage. Comprehensive
covers losses from theft, storm damage, fire, vandalism and windshield
The auto rate increase will generate $40.4 million annually from
State Farm's 1 million customers, which averages out to about
$40 per customer.
However, rates and increases will vary depending on a number of factors,
including where a person lives, their coverage and the discounts for
which they qualify. The increases start Dec. 8 and, for existing
customers, take effect when they renew their policies.