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News for: Home Insurance Market
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May 23, 2025 3:01 AM — Home Insurance Market
California Approves 17% Rate Hike for State Farm Homeowners Insurance
State Farm in California has been approved to raise homeowners insurance premiums by 17%, renters and condo insurance by 15%, and rental owners policies by 38%. The decision was made to stabilize State Farm's financial condition and help cover the costs of wildfires in the state. The rates will go into effect on renewals starting June 1. Although the increase was approved on an emergency, interim ... more
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