State Farm to Raise Illinois Home Insurance Rates by 27%

State Farm to raise Illinois home insurance rates by 27%

ST. CLAIR COUNTY, Ill. - State Farm is set to raise home insurance rates by 27% for Illinois homeowners starting August 15. The increase will affect 1.5 million customers in Illinois, where State Farm is the largest home insurer. The company cites more extreme weather and rising repair costs due to inflation as reasons for the rate hike. Governor Pritzker criticized the move, stating, "These changes will cost Illinois homeowners hundreds of addi…

Consumer advocate pushes for legislative action regarding State Farm rate spike - IPM Newsroom

Illinois Newsroom - According to Bloomington-based State Farm, home insurance rates are on the rise in Illinois because of rising home replacement costs and more frequent severe weather events that drive up the cost and frequency of claims. The post Consumer advocate pushes for legislative action regarding State Farm rate spike appeared first on IPM Newsroom.

Gov. Pritzker seeks more regulatory authority over homeowners insurance

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Illinois Homeowners Face Near-Record Insurance Rate Hike

State Farm rolls out 27% increase in July and August, prompting governor to call for legislative intercession.

Capitol Fa - Your Illinois News Radar » Isabel’s morning briefing CapitolFax.com

* ICYMI: After State Farm rate hike, legislators are pressured to provide relief. Here’s what could be on the table. Tribune… In Illinois, those familiar with state insurance law say there’s currently no effective mechanism to prevent companies like State Farm from imposing excessive rates for home and auto insurance. “I do agree with [...]

After State Farm rate hike, Illinois legislators are pressured to provide relief

Gov. JB Pritzker wasted no time in calling on state legislators to do something about rising insurance rates after State Farm announced it was hiking homeowners insurance by 27.2% beginning this month, citing rising costs due to extreme weather events…