Lake Charles, LA (KPLC) -According to a new report, auto insurance rates will continue to rise more than the national average this year.
The lawsuit reform a year and a half ago was supposed to reduce auto insurance in Louisiana. But the report says Louisiana is second in the country for the highest rates.
Louisiana ranks second behind Michigan for highest auto insurance rates, according to Value Penguin, whose parent company is Lending Tree. They report Louisiana 92 percent above the national average.
Another company that compares prices says Louisiana is number one in the country. It’s zebra.com Consumer advocate Eric Holl says Louisiana hasn’t seen the cuts it should have had since tort reform. “Penguin value, they do it every year. This is called the state of auto insurance. And this year’s report predicts that Louisiana’s auto prices will continue to rise, in 2022. And they’re expected to rise even faster than the national average, ”Holl said.
He says the rates should reflect how a person drives, but are often based on other factors.
“Credit score, gender, occupation, education, things like that. So, right now in Louisiana, you could be the best driver in the history of the world: never go too fast, stop at every stop sign. But if you have poor credit, you will pay more than a rich person with a DWI conviction with excellent credit, ”Holl said.
Holl is hoping that this year at the regular session they can pass a law to control the industry to make sure it follows the rules.
Holl says lower rates would also allow underinsured drivers to afford more and better coverage.
Copyright 2022 KPLC. All rights reserved.