State Farm asking for 30% increase in homeowners rates throughout CA

State Farm is asking the California Department of Insurance for another rate hike, this on top of a 20 percent rate increase approved last year. The company wants to hike rates 30 percent on California homeowners, 36 percent on condo owners, and 52 percent on renters insurance.

None of these rate increases are a done deal yet. They still have to be approved by the California Department of Insurance, a process that could trigger hearings and stretch on for months.

“It's critical to understand that nothing changes today for State Farm policy holders,” said Michael Soller, a spokesperson for California Department of Insurance.

[JP-gcin]

30% is not approved yet? How about the 42% increase I just got? My home owners insurance went from $3500 to over $5000. What is the CA insurance department going to give them another 30%? Who approved the 42% increase?

[ChozenOne]

State Farm raised my car insurance recently a few months ago by $20 and I haven’t had a ticket in like 10 years. They claim that my specific type of vehicle is the reason why the insurance went up and not my driving. I drive a sedan It’s not even a sports car. It’s a V8 but not a sports car, a sports car to me is considered a coupe. So that is not fair to me. They should be raising the rates based on peoples tickets not what type of vehicle they drive. So basically what the company is saying, if other people who are driving the same vehicle as mine and they are not driving safe I should be affected by it.. I don’t think so. that is not fair to people who drive safely and don’t have tickets. Sounds like some sort of scam to me and it’s the same lady that I called to pay my insurance that I’ve known for like 20 years. She is supposed to be a family friend.

[Alexdaysago]

I blame those packout companies that charge crazy rates to clear out a home and place furniture in a storage.

[Daniel-xbyb]

This is great news, you cant expect home prices to go through the roof while your insurance and taxes stay the same cmon people

[spqr]

STRETCH THE RUBBER STRETCH THE RUBBER BAND.... STRETCH THE RUBBER BAND... OH SNAP!

[smckay]

If you voted Democrat you are directly responsible for this!

[swjofed]

A lot of land in California is not suitable to build houses on.. especially multi-million dollar houses..

[Larry]

I get renters insurance for 10 bucks a month if they raise I can get it cheaper than that and they know it

[Mr.SharkTooth-zcrm]

Geeze, GREEDY much? 🤣


And of course a spokesman for the company will come out and explain all the "facts" as to why they NEED to gouge their customers even more. This is just symptomatic of the cancer killing this country, Corporate GREED.

[patmcbride]

So glad I escaped Kalifornistan!
They'll never stop voting for the extreme left.