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Message
re: Insurance rate increases
Posted on 6/20/23 at 1:47 pm to DevilDagNS
Posted on 6/20/23 at 1:47 pm to DevilDagNS
quote:
Why is car insurance so much more expensive in Louisiana? Surely someone must know?
Because Louisiana takes more property losses and has more uninsured drivers than the rest of the country, besides Michigan.
Mix that with the fact that costs have increased (inflation) on everything your insurance is covering (your property, liability of damaging others property and medical in the event someone gets hurt in the accident)
Louisiana is a low income state, with a high cost of living.
This post was edited on 6/20/23 at 1:50 pm
2
Posted on 6/20/23 at 2:05 pm to lsudat10
quote:
Because Louisiana takes more property losses and has more uninsured drivers than the rest of the country, besides Michigan.
So its the property claims that are driving up the costs and not the personal injury? Wow thats crazy.
Posted on 6/20/23 at 2:47 pm to lsudat10
quote:
Because Louisiana takes more property losses and has more uninsured drivers than the rest of the country, besides Michigan.
I'm not saying you're wrong, but that would only apply to a company that ONLY writes Louisiana business.
Property losses has nothing (or very little) to do with it. Louisiana verdicts in auto liability have driven carriers out of the state. It's damn near impossible to be profitable there.
Texas is heading in that direction, too.
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