State Farm has requested a 30% rate increase for home insurance in California, with even higher rates for condos and renters. This marks the largest homeowners insurance rate hike the company has ever sought in the state. The California insurance commissioner has raised serious questions about State Farm's financial stability, suggesting that the company may be running out of money. Experts warn that such a significant rate increase could destabilize the entire California homeowners insurance market. State Farm's move comes amid an ongoing insurance crisis in California, described by some as a 'perfect storm' due to its timing and potential impact. The company has signaled to state regulators that it is worried about going insolvent, with some describing the rate hike as 'seismic-level.'
State Farm has requested its largest homeowners insurance rate increase yet — a sign that the state’s largest insurer may be running out of money. https://t.co/ga1VYY6rKe
State Farm just requested massive new rate hikes amid California's insurance crisis. As one industry expert put it: “It’s a perfect storm because the timing of it couldn’t be worse." https://t.co/5lBRZIxP7C https://t.co/FwtgOQ30K5
State Farm seeks major rate hikes for California homeowners and renters https://t.co/WsGMTUJAfK
State Farm is the latest insurance company looking to increase rates in California. https://t.co/3tDJ3EXzRE
State Farm seeks ‘seismic-level’ rate hike as insurance crisis becomes ‘perfect storm’ https://t.co/lOzJqwDb89
State Farm signaled to state regulators that it’s worried about going insolvent. Experts say such a move could roil the entire California homeowners insurance market. https://t.co/6jsyTfzRH0
State Farm seeks major increase in home, renters insurance rates https://t.co/3vtJPIz4rv
State Farm has requested its largest homeowners insurance rate increase yet — a sign that the state’s largest insurer may be running out of money. https://t.co/mUmuAo41n1
Insuring your home in California could get even more expensive. @byandreachang with the scoop State Farm seeks major rate hikes for California homeowners and renters https://t.co/LkBUykQcyW
State Farm seeks steep home insurance hike in California https://t.co/HlPliWl4VI
In California news ... State Farm has asked for a 30% rate increase for home insurance (more for condos and renters). The state insurance commissioner says it raises "serious questions" about the company's finances. Scoop from @meganfanmunce: https://t.co/rHBKtdomIa
California Insurance Commissioner Ricardo Lara said in a statement that State Farm’s requests “raise serious questions about its financial condition.” https://t.co/Il2M3KcD64
"As homeowner's insurance prices climb, more Americans ask: Is it worth it?" (via @USATODAYmoney) https://t.co/dEFiFqvsJx