State Farm requested one of its biggest rate increases ever, a sign they may be struggling financially. Here's what California homeowners should know.Many California homeowners are concerned about their home insurance, and that anxiety ratcheted up on Friday when State Farm requested one of its biggest rate increases ever, a sign they may be struggling financially.
"It's a regulation meant to address a company's financial solvency. That's what they're saying and we're going to look closely at that, and we have some serious questions about State Farm's financial condition and we're going to get to the bottom of it. "Some California homeowners received notice they can keep their State Farm Insurance coverage -- but the policy cannot include fire damage.