Louisiana Approves State Farm Auto Rate Decrease and Homeowners Rate Increase
The Louisiana Insurance Commissioner approved State Farm's request to reduce personal auto insurance rates by an average of 5.9% for over 1 million policyholders, effective January 1, 2026. This decrease is attributed mainly to a decline in physical damage claim frequency. Concurrently, State Farm received approval for a 9.7% average increase in homeowners insurance rates for more than 300,000 policyholders, driven by updated hurricane risk modeling and rising non-catastrophic losses.