Two carriers are planning to lower their auto insurance rates in Louisiana, the state’s insurance department says.
July 2, 2019—Both Progressive Security Insurance Co. and Louisiana Farm Bureau have filed to reduce auto insurance premium rates in Louisiana, reported Insurance Journal.
The two carriers are following in the footsteps of State Farm Insurance, which has implemented three rate decreases there in the past year.
Louisiana Insurance Commissioner Jim Donelon in early June approved Progressive’s filing for a 2.2-percent rate decrease on new and renewal auto insurance business.
Shortly after announcing Progressive’s intention to drop its rates, Donelon reported that the Louisiana Farm Bureau plans on reducing its rates by 4 percent on 220,000 automobile policies.
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