State Farm insurance says it's lowering auto insurance rates in Louisiana by an average of 2.5% at the end of June.
State Farm says the rate rolll-back represents an annual savings of $22.4 million to its Louisiana customers. State Farm insures about one in every three cars in Louisiana.
Company vice president Rob Stewart says the reduction is due to a better claims experience in the state.
Premiums for collision and comprehensive coverages are decreasing the most. The cost of the liability and medical payments coverages will go up for some and down for others.
The new rates are effective June 30.
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