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California, State Farm
State Farm asks for approval to increase California home insurance rates by an average of 22%
Citing the "dire" financial situation they're facing after the Los Angeles wildfires, State Farm General has asked California officials for an emergency interim rate increase. The rate hike could work out to an average increase of 22% for California homeowners, State Farm General revealed Monday.
State Farm asks for emergency 22% increase for California premiums, but critics cry foul
Citing what it calls a potentially “dire situation,” State Farm asked California for permission to hike insurance rates by an average of 22%.
State Farm Seeks an Urgent Increase in California Rates After Fires
State Farm has received more than 8,700 claims from the Los Angeles fires alone and paid more than $1 billion to customers, according to the company. The insurer expects to pay out significantly more, and the fires will be the costliest in the history of State Farm, the company said.
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State Farm proposes home insurance price hike after $1 billion spent on LA fire claims
State Farm argued the rate hikes are justified due to the high risks the company has underwritten, particularly after ...
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on MSN
State Farm emergency rate hike request raising alarm bells for some
The largest insurer in the state is requesting a rate increase that would affect every one of its customers, and likely drive ...
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on MSN
Los Angeles fires highlight risk of 'uninsurable future,' experts say
Jewlz and Terry Fahn make up one of thousands of Los Angeles households seeking to recover their losses after the devastation ...
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