State Farm again is seeking huge increases in home insurance rates in California ...Middle East

By Jordan Valinsky and Ramishah Maruf, CNN New York (CNN) — State Farm is seeking increases of as much as 52% for some of its residential insurance rates in California, which could ramp up the financial burden for many homeowners and renters in the state’s troubled insurance market. It’s the third major change for State Farm in California within the last year. The insurer stopped selling insurance for new homes in the state last summer, citing wildfire risks and skyrocketing construction costs. The insurer, California’s largest, is requesting a 30% rate increase for its homeowners line, a 52% rate increase for renters and a 36% rate increase for condominium owners. State Farm was prev

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Last updated : 02 July 2024 clock 08:00 PM

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State Farm again is seeking huge increases in home insurance rates in California ...Middle East

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