Insurance Giant State Farm Seeks Another Rate Hike in California

The company said it is ‘working toward its long-term sustainability in California.’
Insurance Giant State Farm Seeks Another Rate Hike in California
A housing development in Santa Clarita, Calif., on Sept. 8, 2023. Mario Tama/Getty Images
Jack Phillips
Jack Phillips
Breaking News Reporter
|Updated:
0:00

State Farm is proposing to raise its California homeowners insurance policies by 30 percent, according to documents submitted to the state.

In filings with the Department of Insurance in late June, State Farm said it is also seeking a 52 percent rate increase for renters and a 36 percent rate increase for condominium owners.
Jack Phillips
Jack Phillips
Breaking News Reporter
Jack Phillips is a breaking news reporter who covers a range of topics, including politics, U.S., and health news. A father of two, Jack grew up in California's Central Valley. Follow him on X: https://twitter.com/jackphillips5
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