The rate hike, which will take effect from November, will impact about 350,000 policyholders across California.
Firefighter Christian Moorhouse jumps over a fence while battling the Park Fire in the Cohasset community of Butte County, Calif., on Thursday, July 25, 2024. His crew was able to keep flames from reaching the mobile home they were protecting. across California. Some customers will face premium increases of up to 650%, while others may see their rates drop by as much as 57%, according to company filings.
The San Francisco Chronicle earlier reported the rate adjustment and said the previous larger increase was in 2021 when Homesite Insurance was approved for a 38.2% hike.follows a series of rate hikes for other insurers, including State Farm, which is seeking to raise its rates by an additional 30% after already securing a 20% increase earlier this year.
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