US EditionState Farm Defends 27% Insurance Rate Hike, Calls Pritzker's Criticism 'Factually Incorrect'
ILLINOIS, JUL 17 – Illinois homeowners face a 27% average premium increase as State Farm cites rising costs from inflation and frequent severe weather over 15 years, officials say.
- On July 18, 2025, State Farm implements a 27% average home insurance rate increase, affecting approximately 1.5 million Illinois policyholders and applying to new and existing policies.
- State Farm reported 15 years of losses, noting a $1,700 average premium and citing rising rebuilding costs due to inflation and severe weather, according to the insurer.
- Facing public pushback, Pritzker ordered the Illinois Department of Insurance to investigate and called them an `unfair and arbitrary insurance rate hike`.
- Requiring prior approval for hikes over 5%, Hastings proposed, with a 30-day comment period for increases above 10%, according to State Sen. Michael Hastings, D-Tinley Park.
- Ahead of the Oct. 14 veto session, Pritzker urged the Illinois General Assembly to pass legislation to prevent severe and unnecessary rate hikes during the session.
12 Articles
12 Articles
Illinois leaders blast State Farm as it hikes home insurance rates
State Farm is raising home insurance rates 27% due to inflation and severe weather, saying it's been spending more than it's taking in. But one Illinois lawmaker looking to limit rate hikes retorted, "Joe Schmo ain't buying that crap."
After Pritzker’s attacks on State Farm, insurance industry sees another push for rate review coming to Springfield – WGLT (NPR at ISU)
Gov. JB Pritzker has already called on state lawmakers to “enact a legislative solution” during the fall veto session that “prevents insurance companies from taking advantage of consumers through severe and unnecessary rate hikes like those proposed by State Farm.” Currently, the Department of Insurance gets notified of a rate hike but can’t stop it. Regulators in other states can do that.
State Farm defends 27% insurance rate hike, calls Pritzker's criticism 'factually incorrect'
BLOOMINGTON, Ill. (WTVO) — State Farm is defending its 27% rate hike on Illinois homeowner insurance policies, calling Gov. JB Pritzker's condemnation "factually incorrect." According to the Chicago Tribune, the insurance agency is raising rates in Illinois by 27.2% on August 15th, due to an increasing number of extreme weather events. The increase comes as State Farm says it struggles to keep up with insurance claims on a rising volume of damag…
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