Posted: Jan 7, 2010 3:24 PM by Rob Kirkpatrick
BATON ROUGE, La. (AP) - State Farm Fire and Casualty Co.,
Louisiana's largest homeowners insurer, has asked for a rate hike
that will average 19.1 percent statewide.
The Louisiana Department of Insurance will consider the request,
which could generate $67.6 million, or an average of about $229 per
policyholder. The company has about 296,000 policyholders in the
Insurance rates vary statewide, but rates are generally higher
in storm-vulnerable coastal areas.
State Farm spokeswoman Molly Quirk-Kirby also said individual
increases will vary depending on deductibles and policy limits.
"This rate change need is based on our projections of future
losses and expenses," Quirk-Kirby said.