Statement on State Farm’s Latest Rate Increase Request
FOR IMMEDIATE RELEASE
May 20, 2025
Contact: contact@insurancefairnessproject.com
Statement on State Farm’s Latest Rate Increase Request
Late yesterday, State Farm requested another rate hike for California policyholders—just one week after Commissioner Lara granted its interim rate increase. This latest rate hike would result in an overall premium increase of 30% for homeowners, 36% for condos, and a whopping 52% for renters.
Carmen Balber, Executive Director of Consumer Watchdog, rightly pointed out: “What I think is clear from today’s rate filing is that the commissioner didn’t win anything for Californians in this proceeding.”
Statement from the Insurance Fairness Project:
"We can't rate hike our way out of the insurance crisis. The absurdity and outrageousness of State Farm asking for another hike, just one week after getting one, is proof that the companies will keep coming back for more and more,” said TJ Helmstetter, spokesperson for the Insurance Fairness Project. “The reality is that this crisis is driven by climate change and a failure of leadership at every level. We can’t expect it to be solved on the backs of ordinary Americans who are just trying to pay their mortgage or their rent. It’s time for the federal and state governments to take this crisis seriously and offer real solutions to protect people.”
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The Insurance Fairness Project is an information hub dedicated to offering insights into the home insurance crisis, exploring its drivers and highlighting solutions alongside issue experts and community advocates.
