State Farm announces the company is cutting it’s auto insurance rates by 2.6 percent effective November 25th.
State Farm Spokesperson Felicia Van Frank says their rates have been steadily dropping for several years as costs have decreased in Louisiana.
“This is our fourth rate filing in the last two years so overall our customers should see an average rate reduction of about 10.4 percent.”
Those rate changes may be dependent on your policies.
Van Frank says the savings come down to improving their expense situation and lower loss numbers.
“We have seen some reduced expenses driven by company changes in technology and efficiencies, along with a reduction in losses, so that helps support our decision to make this rate change.”
The 2.6 percent decrease comes out to 36.6 million dollars in savings for State Farm customers.
Van Frank says there’s other ways you can lower your rate, and if you are a State Farm customer now would be a good time to check in with your insurance agent.
“We are suggesting that customers reach out and talk to their local agent about their individual situation. So, if they have the policy then they can look at their various coverages.”
