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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 ...
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 ...
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 ...
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.
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 ...
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 ...
State Farm is seeking a 30% rate hike, claiming its California unit is in financial trouble. Consumer Watchdog alleges the home insurer is hiding earnings. State Farm accused of funneling excess ...
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.