State Farm asks for 22% home insurance rate hike in California following LA wildfires: ‘Risk is greater’
State Farm asked California on Monday if it could hike home insurance rates in the state by an average of 22% to address what it has claimed was a potentially “dire situation” related to payouts from the devastating Los Angeles-area wildfires The insurer claimed that it has paid out more than $1 billion to California policyholders affected by the wildfires after receiving nearly 9,