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State Farm, California’s largest insurance provider, is asking for a 22 percent interim rate hike for California homeowners just week after the deadly Los Angeles wildfires (Getty Images)
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.
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, California’s largest insurer, said last year that it could drop more than 1 million policies in the state over the next five years — a signal that private insurers’ retreat from ...
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 ...
As the Palisades and Eaton fires wreak havoc on Los Angeles, the state insurance commissioner is taking action to protect home insurance policy owners California bars insurers from dropping fire ...
At least six fires have burned near Pacific Palisades since 1980, including a 2018 blaze that was the third-most expensive in California history. ... Some 450,000 homes — about 3% of all state ...
Climate change and extreme weather have contributed to catastrophic fires that destroyed thousands of California homes in recent years — and an insurance crisis that could result in the biggest ...