California regulator mulls State Farm's request for 22% premium hike for homeowners after LA fires

Despite being considered a basic service for homeowners, home insurance is facing a significant increase in costs in California, which could result in an increase of up to 22% in the near future.This increase would impact about a million customers of State Farm, the state's main insurer, with the devastating forest fires that hit Los Angeles as the main cause.The impact of forest fires on the finances of State FarmThe Los Angeles fires, which oc…

State Farm Gets 'Provisional' Approval For 22% Rate Hike In California

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

State Farm can hike rates on homeowners — if it pauses cancellations and proves need

State Farm won conditional approval for homeowners insurance rate hikes averaging 22% in California.

State Farm OK to Hike California Home Insurance Rates — For Now

State Farm can raise homeowners, renters, condo, and landlord policy insurance rates in California — at least until April 8, when the state’s largest property insurer must prove in a public hearing that it really needs the increase.

'Sham' CA Health Insurers Must Return $800K To Consumers

'Sham' CA Health Insurers Must Return $800K To Consumers - Across California, CA - The two companies reportedly did not offer coverage for preventative care, which is illegal in California.

State Farm Can Hike Rates in California -- If it Pauses Cancellations and Proves Need

A home burns in Yorba Linda during a wildfire. Courtesy OnScene.TV California Insurance Commissioner Ricardo Lara said Friday that he will grant State Farm’s request to raise home insurance premiums by 22% on average if the company agrees to certain conditions — and wins approval at a public rate hearing next month.  Lara’s conditions are that State Farm, the state’s biggest provider of homeowners insurance, commit to pause canceling and not ren…