The state's largest insurer, State Farm, has the green light to raise rates by 20%.
The biggest seller of homeowner's insurance policies in California is about to raise rates. The hike in rates comes against a backdrop where getting homeowner’s insurance is more difficult than ever, and more expensive. KPBS reporter John Carroll looked into the issue and found things are unlikely to get better anytime soon.
is the technology that insurers are now using, like drones and satellite images, to slap a risk score on people instead of looking at their situation holistically. That’s part of what she called TMI — too much information. The people her organization represents don’t set rates, they sell policies. However, she said she understands where insurance companies are coming from that do business in California.“We have a regulatory environment that has not modernized with time ... it’s going to take some time to undo the situation we’re in right now.”
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