Congress has cut federal funding for public media — a $3.4 million loss for LAist. We count on readers like you to protect our nonprofit newsroom. Become a monthly member and sustain local journalism.
State Farm, California’s largest fire insurance provider, is pushing for rate increases
An insurance office burned by the Eaton Fire on Mariposa St. in Altadena.
(
Kevin Tidmarsh
/
LAist
)
Topline:
State Farm General, California’s largest fire insurance provider with nearly three million policies, is seeking interim rate hikes in the wake of the L.A. wildfires.
Why now: State Farm sent a letter to Ricardo Lara, California Insurance Commissioner, on Monday asking the department to immediately approve interim rate hikes “to help avert a dire situation for our customers and the insurance market in the state of California.”
Why it matters: State Farm has the most California customers out of any other insurer, according to the company. It expects the fires to collectively be the costliest in its history.
Support for LAist comes from
The details: If approved as requested, the interim rate hikes would be 22% for homeowners, 38% for rental properties, as well as 15% for tenants and condo unit owners. It could go into effect in May.
The backstory: The company said in the letter that it has paid more than $1 billion to customers and received nearly 9,000 claims as of the beginning of February — and it expects to pay "significantly more." It also stopped writing any new policies in California last spring.
What's next: California customers can expect to pay more for their insurance from here on out because “the risk is greater,” State Farm said in a statement.
As Editor-in-Chief of our newsroom, I’m extremely proud of the work our top-notch journalists are doing here at LAist. We’re doing more hard-hitting watchdog journalism than ever before — powerful reporting on the economy, elections, climate and the homelessness crisis that is making a difference in your lives. At the same time, it’s never been more difficult to maintain a paywall-free, independent news source that informs, inspires, and engages everyone.
Simply put, we cannot do this essential work without your help. Federal funding for public media has been clawed back by Congress and that means LAist has lost $3.4 million in federal funding over the next two years. So we’re asking for your help. LAist has been there for you and we’re asking you to be here for us.
We rely on donations from readers like you to stay independent, which keeps our nonprofit newsroom strong and accountable to you.
No matter where you stand on the political spectrum, press freedom is at the core of keeping our nation free and fair. And as the landscape of free press changes, LAist will remain a voice you know and trust, but the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news from our community.
Please take action today to support your trusted source for local news with a donation that makes sense for your budget.
Thank you for your generous support and believing in independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
![A Black woman sits at a dais with a flag in the background. A name placard in front of her reads: Dr. Va Lecia Adams Kell[um].](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZlcnNpb249IjEuMSIgaGVpZ2h0PSIzOTZweCIgd2lkdGg9IjY0MHB4Ij48L3N2Zz4=)
L.A. County investigators have launched a probe into allegations about Va Lecia Adams Kellum and people she hired at the L.A. Homeless Services Authority. -
L.A. Mayor Karen Bass suspended a state law allowing duplexes, calling more housing unsafe. But in Altadena, L.A. County leaders say these projects could be key for rebuilding.
-
After rising for years, the number of residential installations in the city of Los Angeles began to drop in 2023. The city isn’t subject to recent changes in state incentives, but other factors may be contributing to the decline.
-
The L.A. City Council approved the venue change Wednesday, which organizers say will save $12 million in infrastructure costs.
-
Taxes on the sale of some newer apartment buildings would be lowered under a plan by Sacramento lawmakers to partially rein in city Measure ULA.
-
The union representing the restaurant's workers announced Tuesday that The Pantry will welcome back patrons after suddenly shutting down six months ago.
![A Black woman sits at a dais with a flag in the background. A name placard in front of her reads: Dr. Va Lecia Adams Kell[um].](https://scpr.brightspotcdn.com/dims4/default/5425437/2147483647/strip/true/crop/6298x3897+0+0/resize/640x396!/quality/90/?url=http%3A%2F%2Fscpr-brightspot.s3.us-west-2.amazonaws.com%2F76%2F00%2Febed9a7a4fbd9e5ba12997e51d59%2Fgettyimages-1258669633.jpg)
Best of LAist