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The rate hike could work out to an average increase of 22% for California homeowners, State Farm General revealed Monday. "The costs of the January 2025 wildfires will further deplete capital from ...
California’s largest private insurer, State Farm, is seeking a 22% average rate increase for homeowners. In a letter urging the California Department of Insurance (CDI) to "immediately approve ...
State Farm Insurance, the largest insurance company in California, is asking regulators for the OK to raise property insurance rates by 22 percent just weeks after fires ripped through Los Angeles ...
Over the last 9 years, the lack of alignment between price and risk means that for every $1.00 collected in premium, State Farm General has spent $1.26, resulting in over $5 billion in cumulative ...
California's insurance commissioner on Friday turned down a request by State Farm General for an emergency 22% hike of its home insurance rates due to the Los Angeles wildfires, saying the company ...
The insurer, California’s largest, is requesting a 30% rate increase for its homeowners line, a 52% rate increase for renters and a 36% rate increase for condominium owners. State Farm was ...
The insurance regulator will investigate these rate-increase applications, a spokesperson told Reuters in an email. State Farm insures 250,000 homes and 880,000 automobiles in Los Angeles County ...
State Farm General asked Monday for an emergency rate increase averaging 22%, saying the Los Angeles County fires have put California's largest insurer in dire financial straits.