State Farm Insurance customers to see rate hike - KNOE 8 News; KNOE-TV; |

State Farm Insurance customers to see rate hike

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Source: AP Source: AP

BATON ROUGE, La. (KNOE 8 News) - State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Louisiana, and in the nation, is raising its overall rate level in the state an average of 3.4 percent effective February 17, 2014.

After this rate change is implemented, State Farm officials say the overall rate level in Louisiana will still be slightly lower than it was six years ago.        

Premiums for liability, med pay, collision and comprehensive coverage are increasing. Comprehensive coverage pays for losses from such perils as theft, storm damage, fire, vandalism and glass breakage.

Overall premium changes for individual motorists will vary depending on factors such as the coverage they carry, the discounts for which they qualify, where they live, the kind of car insured, who drives it and how much it is driven.

About one in every three cars insured in Louisiana is insured by State Farm.

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