Covering Louisiana

Jan 17, 2014 5:05 PM by AP

State Farm raising automobile insurance rates

BATON ROUGE, La. (AP) - State Farm Mutual Automobile Insurance, which covers about one in every three cars in Louisiana, is raising insurance rates for drivers.

The company announced Friday that the increases will average 3.4 percent, starting Feb. 17. Going up will be premiums for liability, collision and comprehensive coverage.

State Farm spokesman Gary Stephenson says the average increase per insurance policy will be about $35 per year.

He says premium changes will depend on the type of coverage, individual discounts, the kind of vehicle insured, the hometown of the driver and other factors.

Commissioner of Insurance Jim Donelon agreed to the rate increase, according to his spokeswoman.

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