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A State Farm insurance company sign sits amid the rubble of a building destroyed by the Palisades Fire on Sunset Boulevard in the Pacific Palisades neighborhood of Los Angeles on January 16, 2025.
State Farm General, which had about a 20% share of the homeowners insurance market in 2023, insures about 1 million homeowners in the state and has 1.8 million other policies in force. The ...
State Farm also did not renew policies for 30,000 homeowners in March 2024 in an “ongoing” non-renewal process, but said that “homeowner policies which had pending non-renewals in Los ...
Citing what it calls a potentially “dire situation,” State Farm on Monday asked California for permission to hike insurance rates by an average of 22%. In the wake of the Los Angeles-area ...
The judge concluded that State Farm's premiums for homeowners insurance have been excessively high since July 15, 2015. [105] The ruling orders State Farm to refund policyholders for overcharges collected after that date and reduce its homeowners insurance rates by 7 percent.
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 ...
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