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State Farm asks for 22% insurance rate hike
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 asks California to approve rate hikes after wildfires
State Farm is asking California's insurance regulator to approve an emergency rate hike due to the number of claims it received after last month's devastating wildfires.
State Farm Seeks Emergency California Rate Hike After Fires
State Farm, the largest home insurer in California, is asking for an emergency rate hike from state regulators as it warns that multibillion-dollar payouts from the Los Angeles wildfires threaten its balance sheet and the broader insurance market.
1d
on MSN
California's 'Regulatory Failure' Blamed for Wildfire Insurance Disaster
The California insurance crisis laid bare by the Los Angeles fires was fueled by "regulatory failure," economist Nancy ...
The Desert Sun
8d
California car insurance rates skyrocketed, but they aren't the highest in the nation
Car
insurance
rates
in
California
increased by nearly 50% in 2024, according to a recent report, with full coverage now costing drivers an average of $2,575 annually—11% more than the national ...
21h
on MSN
Allstate expects $1.1 billion loss from California fires
Allstate insurance said it expects a $1.1 billion loss from claims caused by the wildfires that swept through Southern California in January ...
usaherald
1d
Can the President Stop California’s Rising Insurance Rates? Legal Pathways and Federal Influence Examined
While the President has limited power over state-regulated insurance, strategic actions can influence California insurers ...
ABC 7 Los Angeles on MSN
13h
Fire-ravaged L.A. areas faced high non-renewal rates for home, fire insurance before disaster struck
Dropped from your home or fire insurance? See which Southern California zip codes have the highest non-renewal rates.
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