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yesterday

State Farm Requests Additional Rate Hikes After 17% Emergency Increase in California

The insurer seeks to restore its original 30% homeowner rate hike request and proposes steep increases for renters and condo owners, as regulators plan a full review this fall.

Palisades fire Cal Fire (Joel Pollak : Breitbart News)
State Farm, California's largest home insurer, just got approved for a 17% homeowners rate hike, granted on an emergency basis after the Los Angeles wildfires. Now it wants another 11% jump.
Anna Schlobohm de Cruder (C) and Daniel Cruder search through the remains of Anna's home which was destroyed in the Eaton Fire on March 20, 2025, in Altadena, California.
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Overview

  • State Farm filed for an additional 11% homeowner rate hike, aiming to restore its original 30% request after receiving a 17% emergency increase approved last week.
  • The company also proposed significant rate hikes for renters (52%) and condo owners (36%), citing $7.6 billion in wildfire-related claims from the Eaton and Palisades fires.
  • California Insurance Commissioner Ricardo Lara has mandated a full evidentiary hearing this fall to scrutinize the justification for these increases and ensure consumer protection.
  • Deputy Insurance Commissioner Michael Soller emphasized the need for transparency and data to ensure rates are not higher than necessary for policyholders.
  • Consumer advocacy group Consumer Watchdog has opposed the emergency rate hikes and is reviewing the latest filings, calling for more accountability from the insurer.