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A rate reduction has been approved for the Louisiana-based auto insurance provider, GoAuto, the Louisiana Department of Insurance reported.

The 3.6% rate reduction for GoAuto Insurance Co. impacts 74,000 Louisiana drivers. The newly approved rates were effective Oct. 7 for new policies and will go into effect on Nov. 7 for renewals.

With the rate reduction, Go Auto joins other insurers that have dropped auto insurance premium rates in Louisiana this year, including State Farm, Progressive and Louisiana Farm Bureau. Taken together, these reductions will impact nearly 1.5 million Louisiana policyholders, the insurance department said.

Topics Auto Louisiana