While Louisiana’s property insurance crisis has commanded center stage since a rash of powerful hurricanes ravaged the coast and bayou country in 2020 and 2021, consumers here also are facing crushing auto insurance rates that are the most expensive in America as a percentage of their incomes.
The latest Bankrate rankings show Louisiana drivers pay 6.5% of their income, an annual average of $3,618, on auto insurance, the largest burden in the country. That percentage of income is up 1.76% from 2023, a whopping 38%.
Longtime Senate Insurance Committee Chairman Kirk Talbot, R-River Ridge, said lawmakers are focused on addressing both the property and auto industry crises during the legislative Regular Session that began Monday with scores of bills filed aimed to increase insurance affordability and availability.
“We’re swinging for the fences on auto insurance,” Talbot said in an interview with USA Today Network. “We do believe their are bills that can make a difference.”
Among the legislation Talbot supports are bills that would eliminate the collateral source rule that currently prevents the reduction of damages awarded to a plaintiff for injury, illness or disability by the amount already recovered from a third party such as an insurer.
Critics of collateral source say it allows some plaintiffs double the amount of damages for an injury.
“Collateral source really moves the needle,” Talbot said.
He also supports bills that would prevent someone injured from suing an insurance…
