West News
State Farm, Farmers To Increase Homeowners Insurance Rates
November 24, 2008
California Insurance Commissioner Steve Poizner has approved homeowners insurance rate increases for State Farm and Farmers, increasing premiums by a combined $115 million.
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State Farm customers will soon face an average 6.9 percent hike and Farmers policyholders' rates will climb 4.1 percent. In both cases, the nonprofit Consumer Watchdog had formally challenged the rates and petitioned Poizner to hold hearings pursuant to Proposition 103, but the commissioner rejected those requests.
The consumer group is concerned that with the sinking economy, more insurers will turn to rate hikes. "Insurance company profits are tied to their investment income and when the economy weakens companies try to push premiums higher in order to maintain high profits," said Consumer Watchdog said in a statement.
"While everyone is feeling the sting of a bad economy, insurance companies want to pass the pain on to homeowners and other policyholders. The insurance commissioner stands between these companies and our wallets and Californians need him to be there," said Douglas Heller, Consumer Watchdog's executive director.
Source: DOI, Consumer Watchdog
Comments? Click here to post a comment about this article
| Subject |
Posted By |
Posted On |
| Dear Mr. Poizner |
Einstein |
Dec 2, 2008, 11:10 am |
| spent on the company's fraud |
State Farm's Special Investiga |
Nov 29, 2008, 11:19 pm |
| investigate rate hikes allegedly spent on the company's frau |
fraud prevention |
Nov 29, 2008, 10:24 pm |
| SWEEP DOWN THE MIGHTIEST WALLS OF OPPRESSION |
R.K. |
Nov 29, 2008, 1:10 pm |
| RE: RE: increases for State Farm combined $115 million |
Wake up America!Wake up Americ |
Nov 28, 2008, 8:53 pm |
| RE: State Farm |
28 years of intentional destru |
Nov 28, 2008, 7:48 pm |
| State Farm Insurance'spolicyholders have a right to see docu |
I believe so." |
Nov 28, 2008, 7:37 pm |
| RE: RE: RE: dumber and dumbest |
Bart |
Nov 26, 2008, 5:15 pm |
| RE: RE: dumber and dumbest |
No one |
Nov 26, 2008, 4:50 pm |
| Seriously |
No one |
Nov 26, 2008, 4:47 pm |
| RE: RE: Farmer John |
AAALarry |
Nov 26, 2008, 2:36 pm |
| RE: Farmer John |
Reality |
Nov 26, 2008, 2:27 pm |
| Farmer John |
AAAlarry |
Nov 26, 2008, 12:50 pm |
| RE: RE: RE: RE: RE: increases for State Farm combined $115 m |
AAALarry |
Nov 26, 2008, 12:47 pm |
| RE: dumber and dumbest |
Farmer John |
Nov 26, 2008, 10:39 am |
| RE: RE: RE: RE: RE: increases for State Farm combined $115 m |
Farmers/State Farm= Garbage |
Nov 25, 2008, 6:19 pm |
| RE: RE: RE: RE: increases for State Farm combined $115 milli |
einstein |
Nov 25, 2008, 3:38 pm |
| RE: Mixed emotions |
Amanda |
Nov 25, 2008, 3:26 pm |
| RE: RE: RE: increases for State Farm combined $115 million |
Don't run to the bank yet Ken |
Nov 25, 2008, 11:51 am |
| purpose-personal economic gain-engineering reports |
.50 billion a year in insuranc |
Nov 24, 2008, 7:50 pm |
| for the purpose-personal economic gain-Gets 82% after Katr |
82% 82% 82% 82% 82% 82% |
Nov 24, 2008, 7:28 pm |
| RE: RE: increases for State Farm combined $115 million |
sheltowee |
Nov 24, 2008, 7:20 pm |
| reckless indifference for the truth for the purpose |
TO THE UNTOUCHABLES. |
Nov 24, 2008, 6:56 pm |
| RE: RE: increases for State Farm combined $115 million |
Ken |
Nov 24, 2008, 6:50 pm |
| RE: increases for State Farm combined $115 million |
feeling the sting |
Nov 24, 2008, 6:46 pm |
| increases for State Farm combined $115 million |
State Farm CEO Gets 82% Pay Ra |
Nov 24, 2008, 6:44 pm |
| RE: RE: dumber and dumbest |
Einstein |
Nov 24, 2008, 6:08 pm |
| RE: dumber and dumbest |
Ian O'Peril |
Nov 24, 2008, 5:40 pm |
| RE: RE: RE: Mixed emotions |
Bart |
Nov 24, 2008, 3:47 pm |
| RE: RE: Mixed emotions |
hmm |
Nov 24, 2008, 3:07 pm |
| RE: Mixed emotions |
Farmer John |
Nov 24, 2008, 2:20 pm |
| Mixed emotions |
Hmm |
Nov 24, 2008, 12:46 pm |
| dumber and dumbest |
einstein |
Nov 24, 2008, 12:41 pm |
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