In April, the company argued the emergency rate hike would help State Farm rebuild its capital after the wildfires.

As State Farm’s financial condition improves, policyholders will get a one-time, 2.5% premium discount when they renew.

A proposed settlement means some State Farm policyholders won’t see additional increases, and others could get refunds.

Farmers Insurance Group, California’s second-largest home insurance company, is seeking a rate hike amid plans to lift a cap on the number of new homeowner polices it writes each month in the state.

A proposed settlement would keep some State Farm property insurance rates from rising again in California, and would give refunds to some customers ...

This is read by an automated voice. Please report any issues or inconsistencies here. California drivers face auto insurance rate increases exceeding 30% since 2022, driven by expensive vehicles, ...

WE BEGIN WITH BREAKING NEWS. THAT BREAKING NEWS. POTENTIAL RELIEF TO THE STATE’S INSURANCE CRISIS. GOVERNOR GAVIN NEWSOM SAYS SOME OF THE INSURERS WHO LEFT OR LIMITED COVERAGE IN THE STATE OVER RISING ...