State Farm seeks major increase in home, insurance rates, sparks concerns

State Farm recently requested its largest home insurance rate increase to date, a move that would worsen the insurance crisis in California.

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[gordonwardhaugh]

How about cutting the massive advertisement budgets who the hell buys Insurance off of advertisement cut the big bonuses of the CEO and board members❤❤

[JB]

State Farm is already among the most expensive insurers. Maybe they should drop all their NFL/NBA ads. Go figure.

[ry]

I had a claim through State Farm, and they did not honor my policy. I will never insure with them again....

[banic]

It’s not mostly climate change. You can point the finger at PGE, California Forestry Service and the higher cost of construction goods. The insurance industry will not eat the costs, they will pass it on to the consumer… business 101.

[michaeliverson]

I like how he tries to insert climate change. Just a blanket statement, but most people will buy it unfortunately.

[mark]

Medicare style Homeowners Insurance ... wth... as if the gov can manage the risk better than insurance companies

[retroactiveIifestyle]

I filed a claim with State Farm in February. It was the first claim I had ever filed, and they denied it. State Farm then doubled my premium, and now no one else will insure me because of my "claims history." Insurance is a racket.

[toddportice]

I understand insurance. However those that pay for insurance and never have a claim in a calendar year should receive a 50 to 60 percent refund. If someone places a claim they receive no refund and rates can not be increased for placing a claim. I mean that is the purpose of insurance. That should be the rule and law of the land. Perhaps they will not fight you when you want to make a claim and help control top execs making a crazy amount of money.

[Coffee]

Democrats, and insurance companies. Price people out of their homes. 😢

[M.C.Blackwell]

People already can't afford to rent or buy and need help

[alexi]

Useless G.Newsome once again his head in the sand, why can Newsome can't figure out stuff.

[gordonwardhaugh]

I want a 30% pay increase F F insurance

[TheRachag]

State Farm needs to leave and create room for new companies to be created

[cwdl]

How the hell are anyone able to afford these hikes .. its just insane ..
Somethings gotta be done..

[danieluva]

Everyone who thinks that high home value appreciation is good, well, here you go. Party’s over folks.

[kornkid]

The cost of construction is so high in California that all insurance companies have to pay big money for claims. Progressive polices have made new construction cost so expensive that the floor pricing is uncompetitive overall. It's a giant feedback loop and it starts with our bad policies that burden the and hurt the barrier for entry and the cost to maintain.

Progressive isn't working.

[Thunder_Dome]

They rate hike for any excuse they can find. They raised my car insurance "because people that drive my type of car cost more to cover". Not me, other people with my type of car.

[albertoserrano]

Let them go other states are experiencing wild fires flooding and harsh tornadoes and hurricanes see if they wont leave those states as well

[sweetsteven]

Just relocate out of California if you don’t like the price.

[jkm]

The state Insurance commissioner should grow some……
and call their bluff. Tell SF if you choose not to underwrite homeowners policies, you can forget get about selling overpriced auto and life insurance in California as well. Go somewhere else SF.