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State Farm asks for insurance rate hike of 22 percent
State Farm proposes home insurance price hike after $1 billion spent on LA fire claims
State Farm argued the rate hikes are justified due to the high risks the company has underwritten, particularly after premiums were kept artificially low.
State Farm asks for insurance rate hike of 22 percent after L.A. fires
State Farm wrote in a letter on Monday that the recent fires in Los Angeles threaten its finances and are “the costliest in the history of the company.”
State Farm asks for approval to increase California home insurance rates by an average of 22%
Citing the "dire" financial situation they're facing after the Los Angeles wildfires, State Farm General has asked California officials for an emergency interim rate increase. The rate hike could work out to an average increase of 22% for California homeowners,
CNET on MSN
1d
Does Your Home Insurance Cover Wildfire Destruction?
Landscaping around the property is equally important. CalFire recommends removing vegetation within five feet of windows and ...
1d
on MSN
Who gets to rebuild? Los Angeles fires expose the weakness of U.S. home insurance.
While there has been a growing crisis in insurance for years, the scale and scope of the Los Angeles wildfires brings the ...
ConsumerAffairs
5d
What to do if you can’t afford homeowners’ insurance or don’t get renewed?
Homeowners’ insurance has become increasingly difficult to afford and harder to get in California and some other states ...
1h
Oklahoma ranks 3rd in home insurance costs, early 2024 data projects increases
A heads up to homeowners with just a couple months left until severe weather season. Oklahoma ranks as the third most expensive state in the country for homeowners insurance.
7h
on MSN
State agencies promote flood insurance to protect your property
40% of federal flood claims come from areas outside of flood zones, and standard home insurance may not cover it.
WCPO Cincinnati
3d
Home insurance premiums on the rise: How you can lower your rate
Home insurance costs are rising across the nation, and residents in the Tri-State area are feeling the financial strain.
5d
6 ways for seniors and retirees to save on homeowners insurance
The average cost of a homeowners policy has risen more than 30% since 2020. Yet you can still find ways to save on insurance, ...
1d
on MSN
California Homeowners Hit With Sudden 22 Percent Insurance Rate Increase
As the Golden State faces increasing levels of environmental disasters and wildfires, many insurance companies have raised ...
11d
on MSN
Asheville homeowners' insurance rate to increase 9%; 'Difficult to speculate' on Helene's impact
The North Carolina Department of Insurance has announced that Buncombe and Henderson counties will see substantially lower ...
4d
WA insurance costs keep rising. What can the new commissioner do?
Home, auto and health insurance rates are on the rise. Here's what insurance commissioner Patty Kuderer says her office can ...
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