State Farm to cut its auto insurance rates in Louisiana
BATON ROUGE, La. (AP) — One of Louisiana’s largest auto insurers plans to cut its rates for drivers, starting in November.
State Farm announced Thursday that it will drop car insurance rates for more than 1 million policyholders by 2.6%. The insurer says that will be the fourth rate reduction in two years, a total cut of more than 10%.
The lower premium charges will begin Nov. 25, when people get new or renewed policies.
State Farm is one of several car insurance companies that have decreased rates in recent months. Still, Louisiana’s average car insurance premiums remain among the highest in the country.