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State Farm to issue $136M to Louisiana policyholders
Posted on 8/3/26 at 1:32 am
Posted on 8/3/26 at 1:32 am
quote:
State Farm Mutual Automobile Insurance Company told the Louisiana Department of Insurance it expects to pay about $136 million to qualifying Louisiana policyholders.
The average payment will be $138 per eligible vehicle.
quote:
Temple credited recent legislative changes by Gov. Jeff Landry, the Legislature and the Department of Insurance with helping reduce insurance costs.
He cited reforms to Louisiana's comparative fault law, repeal of the state's direct action statute, limits on third-party litigation financing, changes to the Housley presumption, increased transparency for medical billing in litigation and stronger distracted driving laws.
More at 5.
Just The News
7
Posted on 8/3/26 at 1:48 am to LSUbest
State Farm, I'll believe it when I see it.
Posted on 8/3/26 at 5:23 am to LSUbest
I was informed that I would be getting checks for my car insurance from them a couple of weeks ago here in Alabama.
Posted on 8/3/26 at 6:37 am to Kirby59
Posted on 8/3/26 at 7:35 am to LSUbest
My insurance went up, again.
Posted on 8/3/26 at 7:37 am to LSUbest
For paying double/triple other rates you get $138 back, congrats!
Posted on 8/3/26 at 8:37 am to LSUbest
Mutual == owned by the policy holders not public, no shareholders. When the reserves get too high more than needed to ensure they can pay out future claims, they issue dividends back to the owners, I.e the policy holders
They’ve been pretty conservative though, it’s been a long while since the last dividend
They’ve been pretty conservative though, it’s been a long while since the last dividend
Posted on 8/3/26 at 9:01 am to Sweep Da Leg
Louisiana ranked among the worst in almost every category for best places to live. Our insurance rates are absurd.
Posted on 8/3/26 at 9:24 am to LSUbest
I first insured my car with State Farm in 1975. Insured my house with them in 1983. This year I switched both to Farmers. Cut my insurance costs almost in half.
Posted on 8/3/26 at 9:51 am to ljhog
I have a perfect driving record, I do have a one teen girl driver... Two car's and my bill is 472.00 a month. It is absurd
Posted on 8/3/26 at 9:54 am to LSUbest
None of these legislative changes have been in effect long enough to impact rates and there would be more than one insurance company doing this. Sounds more like State Farm and Temple trying to say "see tort reform worked!"
Posted on 8/3/26 at 10:49 am to The Real Keyser Soze
quote:
there would be more than one insurance company doing this
Insurance companies that are privately owned or publicly traded would be paying their dividends to their owners, investors, and stock holders.
State Farm is a mutual company. Basically means the company is owned by it's policy holders. So when their reserves get high and they issue a dividend, its paid to the policy holders.
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