Tag: rate increase

What a coincidence – State Farm files for 19% rate increase in Louisiana!

Table created with data from the Daily Comet

After MID awarded State Farm a 19.5% rate increase, the Company decided to forgo the shock ’em  first approach it brought from Florida Mississippi- …and the score in the State Farm game was 45-19.5…– and go with a 19% requested increase in Louisiana.

The Times-Picayune carried the AP story; but, hanging on Editilla’s Ladder was the more detailed story in the Daily Comet.

“State Farm, Louisiana’s largest homeowners insurer, has asked regulators for a 30 percent rate increase for policyholders in Terrebonne and Lafourche parishes.

Coastal parishes would take the brunt of the proposed increases, which average 19.1 percent statewide.

The Louisiana Department of Insurance will consider the request, which could generate $67.6 million, or an average of about $229 per Louisiana policyholder. The company has about 296,000 policyholders in the state…”

This brings us to the part of the story where things start to go fuzzy, shall we say.  Continue reading “What a coincidence – State Farm files for 19% rate increase in Louisiana!”

…and the score in the State Farm game was 45-19.5…Allstate 65-0 next game in town

Beginning in mid-February, State Farm Fire & Casualty Co. will raise homeowner insurance rates 19.5 percent in the three Coast counties…Allstate is requesting a 65 percent rate hike statewide.

Anita Lee has the story on rising insurance rates for the Sun Herald.

Insurance Commissioner Mike Chaney approved the rate increase, rejecting State Farm’s request for a 45 percent rate hike along the Coast. New rates will apply only for current policyholders because State Farm is writing no new business in the three Coast counties…The Mississippi Insurance Department has asked for additional information from Allstate in reviewing the rate proposal. Chaney’s office did the same with State Farm before agreeing to the lower increase.

State Farm already had raised rates in the rest of Mississippi by 3.9 percent. Continue reading “…and the score in the State Farm game was 45-19.5…Allstate 65-0 next game in town”