Insurance Giant State Farm Seeks Another Rate Hike in California

Published on July 3, 2024

State Farm is proposing to raise its California homeowners insurance policies by 30 percent, according to documents submitted to the state. In filings with the Department of Insurance in late June, State Farm said it is also seeking a 52 percent rate increase for renters and a 36 percent rate increase for condominium owners. A State Farm spokesperson told The Epoch Times on July 3 that it is “working toward its long-term sustainability in California.” “Rate changes are driven by increased costs and risk and are necessary for State Farm General to deliver on the promises the Company makes every day to its customers,” the spokesperson said....

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