State Farm wants rate increase on Louisiana residences

By ALAN SAYRE – The Associated Press

NEW ORLEANS

State Farm Fire and Casualty Co., Louisiana’s largest residential insurer, is asking for an average 9.9 percent rate increase for homeowners coverage.

The filing with the Department of Insurance comes just over a month after Insurance Commissioner Jim Donelon rejected the company’s request for an average 19.1 percent rate hike. Donelon called that proposal unreasonable and unjustified.

State Farm received an average 8.3 percent increase last year in Louisiana after asking for 13.7 percent.

Although the average rate hike would be 9.9 percent, hurricane-vulnerable coastal areas would bear the brunt. The New Orleans region would see a 17.7 percent increase while rates in the Lake Charles region would go up 22.5 percent, said State Farm spokeswoman Brooke Cluse.

Read more: http://www.sunherald.com/2010/03/30/2064678/state-farm-wants-rate-increase.html#ixzz0jkwWkKko

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: