State Farm seeks 22% emergency rate hike after receiving 8,700 wildfire claims
State Farm General requested a 22% emergency rate hike in California on Monday, Feb. 3 to cover losses from the Los Angeles County wildfires and stop its “financial deterioration,” the company wrote in a letter filed with the state’s insurance commission.
State Farm seeks emergency rate increase averaging 22% after L.A. fires
State Farm General asked Monday for an emergency rate increase averaging 22%, saying the Los Angeles County fires have put California's largest insurer in dire financial straits.
State Farm Seeks an Urgent Increase in California Rates After Fires
State Farm has received more than 8,700 claims from the Los Angeles fires alone and paid more than $1 billion to customers, according to the company. The insurer expects to pay out significantly more, and the fires will be the costliest in the history of State Farm, the company said.
State Farm Seeks Emergency Insurance Rate Hikes in California After Wildfires
State Farm is seeking emergency rate hikes of up to 38% for California homeowners, renters and landlords following wildfire losses.
State Farm emergency rate hike request raising alarm bells for some
The largest insurer in the state is requesting a rate increase that would affect every one of its customers, and likely drive up the price of coverage for everyone else.
State Farm requests more rate hikes for California insurance coverage
State Farm Insurance is calling the Los Angeles wildfires the costliest disaster in its history of doing business. The company is requesting an emergency rate increase on all customers.
After fires, State Farm seeks 22% rate hike for homeowner policies
State Farm, the largest insurance company in California, asked the state Monday for an emergency 22% rate increase for homeowner policies in an attempt to prevent a “dire situation” for […]
State Farm asks for emergency statewide home insurance rate increase
State Farm, the largest home insurer in California, has asked the California Department of Insurance for an immediate interim rate increase of about 22% for homeowners statewide to fund recovery from Los Angeles wildfires.
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