Second rate bid tests California’s tolerance for climate-driven pricing shifts
State Farm has moved to escalate its push for rate relief, filing for an 11% homeowners’ insurance rate increase just one week after securing emergency approval for a 17% interim hike. The request, if approved, would go into effect in 2026 and coincide with sharply elevated premiums for renters and condo owners as State Farm looks to recalibrate its risk exposure in one of the country’s most volatile insurance markets.
The new filing comes on the heels of a devasta…