California Approves State Farm’s 17 Percent Rate Increase Amid Insurance Crisis

Home insurance prices in the state are expected to continue rising, experts say.

A State Farm insurance company sign sits amid the rubble of a building destroyed by the Palisades Fire on Sunset Boulevard in the Pacific Palisades neighborhood of Los Angeles on Jan. 16, 2025. Frederic J. Brown/AFP via Getty Images

California homeowners hoping to get a break on their home insurance premiums any time soon might be waiting a while longer.

State Insurance Commissioner Ricardo Lara announced on May 13 that an administrative law judge issued a preliminary order to approve a 17 percent rate increase for State Farm’s homeowner insurance customers.