The Louisiana Insurance Rating Commission approved a reduction in auto rates for two members of the United Services Auto Association group of companies.
According to Associated Press reports, the two companies, United Services Auto Association and USAA Casualty Insurance Company鈥攚hich insure military personnel and their families鈥攚ill reduce auto premiums in the state by an average of 2.2 percent.
The reduction is expected to amount to a $1.6 million decrease in premiums, although some 79 percent of policyholders will see no change in their rates, according to a state actuary. Some policyholders may see their rates decrease by as much as 38 percent.
The LIRC approved a 2 percent increase in auto rates American National Property and Casualty Company (ANPAC), which had sought a 9.4 percent rate hike.
Also approved was a rate hike of 9.6 percent for an ANPAC affiliate, American National General Insurance Company. The rate increase is expected to affect about 2,000 policyholders.
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