Public Safety

State Farm Seeks Emergency Rate Hike in California After $1B Wildfire Payout

Name: State Farm Seeks Emergency Rate Hike in California After $1B Wildfire Payout
Uploaded: 2025-02-27T16:36:51-08:00
Channel: NBC Palm Springs
Description: State Farm is requesting an emergency rate increase in California starting May 1st, citing over $1 billion in wildfire-related claims from Los Angeles-area fires. The insurer, which stopped issuing new policies in 2023 and did not renew thousands of policies in 2024, could raise rates by $600 annually for homeowners.

By: NBC Palm Springs

February 27, 2025

State FarmCalifornia insurance rateswildfire insuranceState Farm rate hikeCalifornia homeownersinsurance commissioneremergency rate increaseConsumer Watchdog

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