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State Farm is seeking increases of as much as 52% for some of its residential insurance rates in California, which could ramp up the financial burden for many homeowners and renters in the state ...
I think it's going to, if anything, increase the speed at which they pull out of California,” McNeil said. ... In 2023, State Farm raised rates by an average of 20% for existing customers and ...
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.
An administrative law judge at the California Department of Insurance ordered State Farm to issue refunds and reduce rates after being found guilty of overcharging customers by $85 million. [103] The judge concluded that State Farm's premiums for homeowners insurance have been excessively high since July 15, 2015. [104]
See today's average mortgage rates for a 30-year fixed mortgage, 15-year fixed, jumbo loans, refinance rates and more — including up-to-date rate news.
We are going to keep working to make sure everyone’s claims are paid fairly, quickly, and completely," Lara said in a statement Wednesday in response to State Farm's decision.
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