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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Farmers Insurance Seeks 6.99% California Rate Hike, Offers 22% Discount — and You May Feel the Squeeze

Farmers Insurance aims to have the rate hike approved by September 2026. (Credit: fantareis/Pixabay.com)

California's second-largest home insurer, Farmers Insurance, has requested approval from the state's Department of Insurance for a 6.99% rate hike on homeowner policies across the state. The move comes amidst ongoing efforts to address California's escalating property insurance crisis.

Proposed Rate Hike and Enhanced Discounts

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