Posted: May 6, 2010 4:47 PM by Melissa Canone
Updated: May 6, 2010 4:47 PM
NEW ORLEANS (AP) - State Farm Fire and Casualty Co. has won a
9.9 percent average increase for homeowners insurance coverage in
Insurance Commissioner James Donelon approved the request
Earlier, Donelon rejected the company's request for an average
19.1 percent rate hike, calling it unreasonable and unjustified.
Last year, State Farm received an average 8.3 percent increase in
Louisiana after asking for 13.7 percent.
Although the statewide average approved Thursday is 9.9 percent,
the brunt of the increase will be borne by southern parishes.