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 rate increase proposal to see if it is needed in the current market. The insurer claims that higher rates are…
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