ST. GEORGE - Insurance Commissioner Tim Temple says Louisiana has some of the nation's highest auto and home insurance rates, and Monday night state leaders gathered in St. George, answering questions from the public and shedding light on when costs are going down.

Temple says the new laws, passed in the most recent legislative session, could lead to lower insurance costs. They started increasing three decades ago.

“[They] were designed to address the property and the auto both, because they are both a problem, impacting our pocketbooks,” he said.

Temple says the high costs are driving businesses and residents out of Louisiana. He attributes some of the high homeowners costs to unpredictable weather conditions along the Gulf Coast.

After hurricanes Laura, Delta, Zeta, and Ida hit Louisiana, more than 800,000 insurance claims were filed, and insurance companies paid out nearly $24 billion, while only collecting $2 billion that same year. Temple says insurance companies were losing money, and unable to survive in Louisiana.

“When we needed them they weren’t there. Twelve companies went insolvent, but - just as important - another 30 just said we’re done,” Temple said.

Temple says he spoke to a man who owns a trucking company and was paying $5,000 a month for insurance in Louisiana. After he moved to Texas, the man's commercial auto insurance dropped to $1,500 a month, Temple said.

Florida is the best indicator that prices could be lower, Temple said. Rates have decreased over the past 20 months. The Florida Legislature passed insurance reform bills, and the state had fewer hurricanes. Those changes led to reduced home insurance premiums for residents there.