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State Farm’s California Neighbors Might Wish They aren’t There. 22% Increase Approved! (justthenews.com)

posted 1 year ago by Irishman4Trump6 1 year ago by Irishman4Trump6 +48 / -0

CA approves 22% rate hike for state’s top property insurer, State Farm, to stabilize market

State Farm justified its rate hike by claiming it is paying out $1.26 in claims for every dollar it collects in premiums, resulting in the loss of $5 billion in the last nine years.

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– doug1956 4 points 1 year ago +4 / -0

I’m sure their reserves, built up over many decades of profit, can handle it.

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– TheVerboten1 3 points 1 year ago +3 / -0

That and they buy insurance for catastrophic occurrences.

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