State Farm seeks 22% emergency rate hike after receiving 8,700 wildfire claims
State Farm General requested a 22% emergency rate hike in California on Monday, Feb. 3 to cover losses from the Los Angeles County wildfires and stop its “financial deterioration,” the company wrote in a letter filed with the state’s insurance commission.
State Farm has the cheapest renters insurance, based on our analysis. State Farm’s average cost is $102 a year for $15,000 in coverage, $121 for $30,000 in coverage and $153 for $50,000 in ...
State Farm, which already has rate increase requests pending, asked state officials to approve more insurance price increases.
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