May 14, 2025
By KAREN VELIE
Starting next month, State Farm can raise homeowner and other insurance rates by 17%. A judge ruled Monday that State Farm provided evidence of “extraordinary financial distress” following the Los Angeles-area wildfires.
State Farm, the state’s largest insurer, is the first company permitted to raise insurance rates on an emergency interim basis in California. The company expects more than $7 billion in claims because of the Los Angeles County fires.
The increase rates will apply to the approximately 1 million homeowners insured by State Farm in California.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.