Tag: renters

California Homeowners Face 34% Rate Hike as Allstate Follows State Farm’s Lead in Insurance Shakeup

Archie Walsh
California Homeowners insurance rates going up

LOS ANGELES: In a move that mirrors State Farm’s recent actions, Allstate is seeking a substantial increase in its California homeowners insurance premiums. First reported by the Los Angeles Times, Allstate aims to raise rates by an average of 34%, marking the largest rate hike in the state this year. If approved by the California Department of Insurance, this increase will impact over 350,000 policyholders. This latest development follows State Farm’s request for significant rate increases, including a 50% hike for renters and a 30% hike for homeowners. The six-largest…

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Are State Farm Rate Hikes Justified? What California Faces Without Them

Logan B.
State Farm California Property Insurance Increases Is it Justified

Is the State at the Mercy of Its Largest Property Casualty Company? The insurance industry in California has recently been shaken by the news that State Farm, one of the nation’s largest insurers, may pull out of the state and non-renew existing policies if they don’t get what they want. This potential move has sparked widespread concern among consumers and industry experts alike. What would be the consequences if State Farm were to follow through with this decision? And is the company justified in requesting significant rate increases given California’s…

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State Farm Seeks Major Rate Increase in California

Live Insurance News
state farm insurance news

State Farm, California’s largest insurer, is proposing sizable rate increases for its residential insurance policies in the state, potentially impacting millions of homeowners and renters. The company has filed for a 30% rate hike for its homeowners’ insurance, a 52% increase for renters, and a 36% escalation for condominium owners. This marks the third major change for State Farm in California within a year. State Farm’s Justification In a statement, State Farm indicated that these rate increases are necessary for the long-term sustainability of its California subsidiary, State Farm General.…

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