California’s Largest Insurer to Raise Rates, After Pausing Policies Last Year

State Farm will raise rates in California by an average of 20 percent per homeowner for renewals, after a recent approval by the state.

A State Farm Insurance office is seen in Springfield, Va., on Oct. 23, 2014. Saul Loeb/AFP via Getty Images

State Farm will raise rates in California by an average of 20 percent per homeowner for renewals, after a recent approval by the state’s Department of Insurance. The new rates are set to take effect March 15, according to a State Farm spokesperson.

The insurance company said in an emailed statement to The Epoch Times the rate increases are necessary to protect ratepayers.