State Farm Slammed For Seeking Up to 38% Policy Hike Following Wildfires
State Farm came under fire for seeking a 22 percent rate hike, with a 38 percent increase for renters, after the California wildfires.
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.
State Farm insurance customers worry about affects of requested rate hikes
For the second time in the past six months, State Farm insurance executives, on Monday, requested an emergency rate hike, this time of up to 22%. This comes on the heals of $1B in payouts due to the LA area fires.
State Farm Seeks Emergency California Rate Hike After LA 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.
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.
State Farm asks for insurance rate hike of 22 percent after L.A. fires
State Farm wrote in a letter on Monday that the recent fires in Los Angeles threaten its finances and are “the costliest in the history of the company.”
State Farm seeks emergency insurance rate hike following LA County wildfires
The state’s largest home insurance company, State Farm wants to raise its rates. The company said it’s in a dire financial situation because of the recent wildfires in Southern California. The wind-driven wildfires in Los Angeles area that started off the year and it destroyed more than 10,000 homes.
State Farm seeks 22% emergency rate hike after receiving 8,700 wildfire claims
State Farm General requested an emergency 22% rate increase in homeowners’ rates to cover losses and to stop its “financial deterioration,”
State Farm, CA’s largest property insurer, demanding 22% rate hike after fires and huge losses
State Farm says that as a result of Prop. 103, it has lost $5 billion over the last 9 years and had no option but to stop underwriting new policies in 2023.
State Farm seeks 22% emergency rate hike for Californians' homeowners insurance
This request comes just six months after a pending 30% rate hike application, potentially impacting millions of California homeowners.
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 for emergency 22% increase for California premiums, but critics cry foul
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California State Farm homeowners frustrated by rejected water damage claims. ‘No basis’
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State Farm Ranked #1 for Best Auto Insurance in Arizona
In a recent report on the top auto insurance providers in Arizona, AutoInsurance.org named State Farm #1 due to its competitive rates, available discounts, and flexible coverage options.
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