California approves State Farm’s 17% home insurance rate hike
May 14, 2025
By KAREN VELIE
Starting next month, State Farm can raise homeowner and other insurance rates by 17%. A judge ruled Monday that State Farm provided evidence of “extraordinary financial distress” following the Los Angeles-area wildfires.
State Farm, the state’s largest insurer, is the first company permitted to raise insurance rates on an emergency interim basis in California. The company expects more than $7 billion in claims because of the Los Angeles County fires.
The increase rates will apply to the approximately 1 million homeowners insured by State Farm in California.
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