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State Farm won conditional approval for homeowners insurance rate hikes averaging 22% in California. The company's logo is displayed on a sign near a mobile catastrophe office following wildfires that destroyed thousands of homes in Los Angeles on Feb. 21, 2025. Photo by Patrick T. Fallon, Getty Images
State Farm won conditional approval for homeowners insurance rate hikes averaging 22% in California. The company’s logo is displayed on a sign near a mobile catastrophe office following wildfires that destroyed thousands of homes in Los Angeles on Feb. 21, 2025. Photo by Patrick T. Fallon, Getty Images
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California Insurance Commissioner Ricardo Lara said today he will grant State Farm’s request to raise home insurance premiums by 22% on average if the company agrees to certain conditions — and wins approval at a public rate hearing next month.

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