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business / economy6 months ago

State Farm 'emergency' insurance rate hike approved as customers continue to feel impact of LA fires

https://abc7.com/post/state-farm-emergency-insurance-rate-hike-approved-customers-continue-feel-lasting-impact-los-angeles-wildfires/16407682/https://www.nytimes.com/2025/05/13/realestate/state-farm-rate-increase-california.htmlhttps://www.latimes.com/business/story/2025-05-13/administrative-law-judge-approves-denies-revises-state-farms-request-for-a-17-emergency-rate-hike-la-wildfires
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State Farm 'emergency' insurance rate hike approved as customers continue to feel impact of LA fires Open in Abc7.com
Highlights
  • California approves 17% rate hike for State Farm amid worsening wildfire damages.
  • Wildfire claims cost over $3.5 billion last year, pushing insurance premiums higher.
  • Rising insurance costs show how climate change threatens coverage and community safety.
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References

California Approves 17 Percent Rate Increase for State Farm

California Approves 17 Percent Rate Increase for State Farm

Insurance commissioner grants State Farm 17% emergency rate hike after L.A. fires

Insurance commissioner grants State Farm 17% emergency rate hike after L.A. fires

California approves State Farm’s request for 17% premium increase for homeowners

California approves State Farm’s request for 17% premium increase for homeowners

California approves State Farm's 17% increase in home insurance premiums in wake of L.A. wildfires

California approves State Farm's 17% increase in home insurance premiums in wake of L.A. wildfires

State Farm gets the OK to do the unthinkable on home insurance

State Farm gets the OK to do the unthinkable on home insurance

California approves State Farm's request for double-digit insurance rate hike

California approves State Farm's request for double-digit insurance rate hike

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