Homeowners in Louisiana may see their insurance rates jump as the state’s own Citizens Property Insurance company proposes new, higher rates. The state-run insurer, which accounts for more than 120,000 policies, is looking to raise rates throughout the state by an average of 10.5%. For some parts of the state – particularly those near the coast – these rates will be higher. Insurance Commissioner Jim Donelon is currently reviewing the…

Insurance regulators in Louisiana are fielding a rate increase proposal from the state’s largest provider of home insurance, State Farm. The insurer is seeking approval to boost their premiums on homeowner’s policies by an average of 8.5%. According to the state’s Insurance Department, the rate increase will affect more than 300,000 policyholders and would net the insurer an additional $32.7 million in premiums annually. State Farm is pushing for approval…