State Farm increases auto insurance rates after “increase in auto claims”

Local News

State Farm Insurance

BATON ROUGE, La. (BRPROUD) – In the midst of the COVID-19 pandemic, the State Farm Insurance Company lowered rates for Louisiana drivers.

Nine months later, and the statewide average rate is increasing as of April 5.

The adjustment in rates was approved by the Louisiana Department of Insurance earlier this year.

So in June 2020, drivers in Louisiana who were insured by State Farm saw a decrease of 9.6 percent.

This recent statewide rate increase by State Farm comes in at 4.3 percent.

The good news is that even with the recent increase in the average rate, State Farm’s rates are still below what they were before the COVID-19 pandemic.

According to a State Farm Spokesperson, the insurance company continues “to monitor trends to ensure we’re accurately matching price to risk, and to minimize the impact to customers as much as possible. Our data indicates more people are driving and it’s resulting in an increase in auto claims from the levels in the Spring of 2020. As a result we’ve adjusted auto rates in Louisiana by +4.3% with an effective date of April 5, 2021.”

If you have any questions about State Farm Insurance, visit SF.

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