A rate reduction has been approved for the Louisiana-based auto insurance provider, GoAuto, the Louisiana Department of Insurance reports.
The 3.6% rate reduction for GoAuto Insurance Co. impacts 74,000 Louisiana drivers. The newly approved rates will be effective on Oct. 7, 2019, for new policies and Nov. 7, 2019, for renewals.
This reduction continues the ongoing trend of decreasing premiums by insurers that include State Farm, Progressive and Louisiana Farm Bureau. Taken together, these reductions will impact nearly 1.5 million Louisiana policyholders, the insurance department says.
According to LDI, the filing demonstrates the health of the domestic insurance industry in Louisiana and the continued movement toward more affordable rates as a result of market competition.
Source: Louisiana Department of Insurance
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