State Farm seeks 22% rate hike in California after LA fires
Housing Wire
FEBRUARY 4, 2025
Homeowners in California with an insurance policy from State Farm could see a 22% rate hike. The insurer sent a letter to the California Department of Insurance on Monday that described its dire financial situation due to the wildfires in Los Angeles County and a request for an emergency insurance rate hike. In addition to the 22% rate hike for owners of single-family homes, State Farm is also requesting an emergency rate hike of 15% for condominium owners and a 38% rate hike for rental homes.
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