California Consumer Group Wants State Farm Homeowners Rate Reduction

April 18, 2016

State Farm has overcharged its customers roughly $78 million since at least July 2015, and should be required to refund that money, Consumer Watchdog told the California Department of Insurance last week.

The group wants State Farm to cut its rates by at least 9.26 percent.

State Farm is currently seeking a $94 million increase over its current rates.

loss-rateCalifornia Insurance Commissioner Dave Jones has set July 15, 2015 as the effective date for calculating the refund.

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Latest Comments

  • August 12, 2016 at 5:46 pm
    Hector Espinosa says:
    I would also like to have lower home insurance premiums. In reality the risk of the home insurance in California is unique because of the unexpected catastrophic fires for alm... read more
  • August 11, 2016 at 1:08 am
    Mark says:
    They made .7 cents on the dollar. 7 cents would be a 93% combined ratio. So, the made slightly less than a cent per dollar.
  • April 19, 2016 at 11:31 am
    Observor says:
    I think the real goal for the "consumer" group is to collect the $500 an hour bill they can collect under Proposition 103. The intervener portion of this law allows these atto... read more

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