Louisiana drivers are finally seeing some relief as auto insurance rates begin to drop, and Insurance Commissioner Tim Temple says it’s a sign that recent legislative reforms are doing exactly what they were designed to do.
“These decreases are a sign that the legislative strategies are working,” he said. “Couple that with a significant decrease in frivolous lawsuits, and it’s contributing to real, measurable change.”
And the cuts don't stop there. While it is widespread as of yet, Temple says some residents are already noticing savings on their homeowners insurance too.
"I've spoken with many across the state who have found opportunities to lower their premiums." Temple said.
But for the momentum to continue, he says lawmakers must resist the urge to change course.
“What the state needs now to keep the momentum is to keep the momentum,” he said. “Stay the course with the legislation we’ve already passed.”
Temple urges residents to speak up and tell their representatives they want to see these efforts continue.
He also encourages consumers to take advantage of the shifting market by shopping around.
“Always shop your insurance,” he said. “Compare, get quotes, find someone willing to meet or beat competitors. They are out there, and they want your business.”