State Farm seeks 22% rate hike for California homeowners to cover Los Angeles wildfire losses
State Farm, the largest insurance company in California, has asked state regulators to immediately approve a steep rate hike for homeowners to prevent a “dire situation” for its customers and the broader insurance market in the wake of the disastrous Los Angeles wildfires.
LA neighbors face vast inequality in rebuild
Note that policy costs in these high-risk states, minus California, averaged $5,040 – roughly 150% more than Golden State ...
Several insurance companies have stopped offering policies in California or are refusing to renew existing ones in an effort ...
State Farm argued the rate hikes are justified due to the high risks the company has underwritten, particularly after ...
That’s enough to kick the plan’s strained finances further into crisis mode, increasing the chances that homeowners statewide ...
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