California insurance wildfires

California Department of Insurance Provisionally Accepts State Farm’s Requested 22% Rate Hike

March 14, 2025 5:25 pmMarch 14, 2025 5:25 pm

Insurance Commissioner Ricardo Lara announced on Friday that he has conditionally approved the requested 22% insurance rate hike by State Farm, but only if they can justify their reasons for an increase at a public hearing in April. For over...

Insurance Commissioner Lara To Question State Farm on 22% Rate Increase Justification

February 15, 2025 2:45 amFebruary 15, 2025 2:46 am

In a statement Friday, Insurance Commissioner Ricardo Lara announced that he will be meeting with State Farm Insurance later this month over their proposed 22% emergency rate hike on rental homes, non-rental homes, rental units, and condos, asking them to justify...

State Farm Seeks 22% Home Insurance Rate Increase After Wildfires

February 4, 2025 2:37 pmFebruary 4, 2025 2:37 pm

State Farm Insurance announced on Monday that they have asked the California Department of Insurance to approve an emergency interim rate increase for rental homes, non-rental homes, rental units, and condos to help pay for the massive increase of claims...

Farmers Insurance to Increase Number Of Homeowner & Renter Policies in California

December 12, 2024 5:50 pmDecember 12, 2024 5:50 pm

In a surprise announcement on Wednesday, Farmers Insurance said that they will be going against the trend of insurance companies in California by increasing the number of renters and homeowners policies. For the past two years, insurance companies have been...

Allstate Looks To Increase Home Insurance Premiums By 34%

July 12, 2024 4:13 pmJuly 12, 2024 4:13 pm

According to an insurance filing unveiled on Thursday, Allstate filed to raise California Insurance premiums in state by 34%, with the request currently remaining under review. For over a year, insurance companies have been slowly limiting policies, ending the allowance...

Tokio Marine Insurance, Mercury Insurance Agree To Customer Switchover For Thousands Of Policyholders

May 14, 2024 2:45 amMay 14, 2024 2:46 am

Thousands of California insurance-holders saw a rare moment of relief on Monday when the Mercury General insurance company announced that they would be working with both the Tokio Marine America Insurance Company and the Trans Pacific Insurance Company, who will...

Travelers Insurance Announces Home Insurance Rates Going Up 15% In June

May 7, 2024 2:45 amMay 7, 2024 2:46 am

According to a new Department of Insurance filing released on Monday, Travelers Insurance is to increase most policies in the state of California by 15.3% starting in June. For over a year, insurance companies have been slowly limiting policies, ending...