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Personal Injury Law Insights from Voorhies Law Firm

Louisiana Car Insurance Rates to Rise

For New Orleans and all of Louisiana, car insurance rates are set to rise for 2018. Is your insurer set to increase insurance rates for car accidents?

The Louisiana Insurance Commission approved a measure to allow insurers in Louisiana to raise their rates. The rate increase depends on who you're insured with, but you could probably expect a small increase. The Louisiana Insurance Commissioner gave some insights as to why:

  1. About 65% of car drivers in Louisiana either have the minimum coverage for car accidents or have no accident coverage at all. This encourages Louisiana drivers who are in a car or truck accident to talk to a New Orleans car accident lawyer (if they're in Nola) to file a property damage or injury lawsuit claim.
  2. Distracted driving is another reason for the need to increase car accident insurance rates. 

Is your insurer increasing car accident insurance rates?

InsurerApproved rate changePolicyholders affectedEffective date (New policy)Effective date (Policy renewal)
Safe Auto Insurance Co. 21.9% 1,934 Nov. 30, 2017 Jan. 6, 2018
Progressive Paloverde Insurance Co. 16.5% 59,455 June 24, 2017 Nov. 25, 2017
Allstate Property and Casualty Insurance Co. 15% 1,391 Oct. 4, 2017 Oct. 4, 2017
Teachers Insurance Co. 14.5% 14,742 Feb. 16, 2018 Feb. 16, 2018
Safeco Insurance Company of Oregon 12.1% 35,829 Oct. 8, 2017 Dec. 9, 2017
Safeco Insurance Company of Oregon 10.6% 2,467 Oct. 26, 2017 Dec. 5, 2017
Privilege Underwriters Reciprocal Exchange 9.9% 926 Dec. 2, 2017 Feb. 1, 2018
State Farm Fire and Casualty Co. 9.9% 1,118,054 Feb. 5, 2018 Feb. 5, 2018
Shelter Mutual Insurance Co. 9% 48,759 Dec. 8, 2017 Dec. 8, 2017
Progressive Security Insurance Co. 8% 163,027 June 23, 2017 Nov. 24, 2017
Allstate Indemnity Co. -0.0004% 594 Dec. 13, 2017 Dec. 13, 2017
Allstate Insurance Co. -0.0010% 50,358 Dec. 18, 2017 Dec. 18, 2017
Allstate Indemnity Co. -0.003% 2,626 Dec. 18, 2017 Dec. 18, 2017
Allstate Property and Casualty Insurance Co. -0.3% 13,417 Dec. 13, 2017 Dec. 13, 2017
Liberty Personal Insurance Co. -0.535% 18,286 Dec. 11, 2017 Dec. 11, 2017
Allstate Property and Casualty Insurance Co. -0.7% 1,437 Dec. 13, 2017 Dec. 13, 2017

About Car Accident Insurance Rates

Most accident insurance companies assess rates by ZIP code. That means, metro areas like Baton Rouge and New Orleans have higher rates. Those rates can be 25% higher in some cases where there is a higher percentage of car accident lawsuits. 

 

If You Get Into a Car Accident in New Orleans

Even if you practice every safe driving technique there is, you may eventually be involved in a car accident. If you're in New Orleans or anywhere in Louisiana, talk to a trusted New Orleans car accident lawyer, like Richard Voorhies, before you do anything.

 

Source: http://www.nola.com/business/index.ssf/2018/02/car_insurance_louisiana_high_w.html

 

 

 

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