One of California's largest home insurance companies is raising rates by 15%Travelers Insurance is raising rates for 320,320 California homeowners by an average of 15.3% due to growing wildfire risk, following other major insurers' actions.
California insurers must give discounts for wildfire mitigation. Have homeowners benefited?Insurance Commissioner Lara mandated wildfire protection discounts, but many Californians are not seeing significant savings as high costs offset benefits.
State Farm seeks massive' insurance rate hike for California homeownersState Farm seeks a 30% increase in California homeowners' insurance premiums, citing losses from wildfires and weather events.