Illinois Homeowners Face Near-Record Insurance Rate Hike

Consumer advocate pushes for legislative action regarding State Farm rate spike - IPM Newsroom

Illinois Newsroom - According to Bloomington-based State Farm, home insurance rates are on the rise in Illinois because of rising home replacement costs and more frequent severe weather events that drive up the cost and frequency of claims. The post Consumer advocate pushes for legislative action regarding State Farm rate spike appeared first on IPM Newsroom.

Gov. Pritzker seeks more regulatory authority over homeowners insurance

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Illinois Homeowners Face Near-Record Insurance Rate Hike

State Farm rolls out 27% increase in July and August, prompting governor to call for legislative intercession.

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* ICYMI: After State Farm rate hike, legislators are pressured to provide relief. Here’s what could be on the table. Tribune… In Illinois, those familiar with state insurance law say there’s currently no effective mechanism to prevent companies like State Farm from imposing excessive rates for home and auto insurance. “I do agree with [...]

After State Farm rate hike, Illinois legislators are pressured to provide relief

Gov. JB Pritzker wasted no time in calling on state legislators to do something about rising insurance rates after State Farm announced it was hiking homeowners insurance by 27.2% beginning this month, citing rising costs due to extreme weather events…

After State Farm rate hike, legislators are pressured to provide relief. Here’s what could be on the table.

Gov. JB Pritzker wasted no time in calling on state legislators to do something about rising insurance rates after State Farm announced it was hiking homeowners insurance by 27.2% beginning this month, citing rising costs due to extreme weather events and pricier repairs. “Enact a legislative solution during the veto session that prevents insurance companies from taking advantage of consumers through severe and unnecessary rate hikes, such as th…