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The insurer, California’s largest, is requesting a 30% rate increase for its homeowners line, a 52% rate increase for renters and a 36% rate increase for condominium owners. State Farm was ...
State Farm is California's biggest car insurer. In all, the six largest insurers have received rate increases totaling more than $1 billion, Consumer Watchdog says.
State Farm is seeking a 30% rate hike, claiming its California unit is in financial trouble. Consumer Watchdog alleges the home insurer is hiding earnings.
In early 2009, the State Farm Florida subsidiary, the state's largest insurer, offered to withdraw from writing property insurance business in Florida after state regulators refused to approve a 47% property rate increase. State Farm said that, in Florida, it had paid out US$1.21 in claims for every dollar in premiums since 2000.
George Jacob "G.J." Mecherle [1] (pronounced "Ma-herl") (June 7, 1877 - March 10, 1951) was the founder of State Farm, headquartered in Bloomington, Illinois.Mecherle, a farmer who later became an insurance agent, founded State Farm after becoming dissatisfied with the insurance rates charged to farmers, as those rates included the risks of city drivers as well.
In 2023, State Farm raised rates by an average of 20% for existing customers and said it would no longer accept new homeowners’ insurance applications in California.
Motor Vehicle Manufacturers Association v. State Farm Mutual Automobile Insurance Co., 463 U.S. 29 (1983), commonly known in U.S. administrative law as State Farm, is a United States Supreme Court decision concerning regulations requiring passive restraints in cars.
The recently-approved increase comes at a challenging time for state’s insurance market. State OKs major insurance company to raise homeowner rates by 20% in California Skip to main content
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