NEW ORLEANS — State Farm says it will slash the rates for auto insurance policies for Louisiana drivers by another 10 percent, Louisiana Insurance Commissioner Jim Donelon announced Monday.
Donelon said the rate cut will go in effect on Aug. 24, 2020, for new and renewal policies. He added that the latest rate cut is the fourth time State Farm has reduced rates for Louisiana drives since 2018 with a total 23% decrease in two years.
Donelon said drivers have benefited from emergency declarations and stay at home orders across the country that have resulted in significantly fewer miles driven, fewer accidents and fewer lawsuits being filed.
“State Farm provides auto insurance for more than a million Louisiana policyholders and has been at the forefront of giving consumers relief from their auto premiums due to decreased driving during the COVID pandemic,” said Commissioner Donelon. “We’ve seen many other local and national insurers do the same since the issuance of nationwide stay at home orders that have resulted in Louisiana policyholders receiving over $202 million in rebates or refunds.”
Policyholders with questions should call the Louisiana Department of Insurance at 1-800-259-5300.
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