Louisiana automobile insurance rate hikes lower this year
BATON ROUGE, La. (AP) - Louisiana's insurance commissioner says the state's auto insurance market may be stabilizing, with a smaller rise in premiums expected this year compared with prior years.
Insurance Commissioner Jim Donelon says Louisiana's auto market has seen a 2.1 percent average increase in rates this year. The Advocate reports that he said that's about half the amount of increase midway through last year.
In 2017, rates climbed by 8.7 percent for the full year.
Louisiana has some of the highest auto insurance rates in the country, with sharp upticks in premium costs for the past five years.
Donelon says rates have risen because of increases in crashes and insurance claims, along with greater expense in repairing vehicles as technology gets more sophisticated. He also cited high litigation rates involving auto accidents.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
New subdivision to be voted on third time Tuesday
Gordon McKernan sees benefits of NIL deals for Tigers
Mardi Gras supply sales up, but shipping delays present challenge for sellers
MLK Day celebrations go on in Donaldsonville despite cancellations across capital area
Father reportedly shot son during dispute at Baton Rouge home