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Premiums on Fire
The report examines how a 21.8% rate hike for State Farm homeowners insurance in California, approved in March 2025 following devastating wildfires in Los Angeles, disproportionately affects policyholders in high-risk areas. It projects that the average State Farm policyholder in California will pay $841 more in 2025 than in 2023, with some communities seeing premiums more than double. The analysis highlights that 280,000 policyholders across 122 communities will face annual premium increases of $1,000 or more. The document argues that these escalating costs are a direct result of climate change and suggests that the financial burden should shift from policyholders to the oil and gas companies responsible for fossil fuel pollution.
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Document type: Report