Illinois homeowners to be hit with another rate hike from State Farm
State Farm is hitting Illinois homeowners with another rate hike. The insurance company said severe weather trends are forcing it to raise rates by 8% this fall.
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State Farm is hitting Illinois homeowners with another rate hike. The insurance company said severe weather trends are forcing it to raise rates by 8% this fall.
Illinois is one of 46 states that have reached a $15.5 million settlement with a Pennsylvania-based mortgage servicer for improperly imposing new insurance policies on homeowners who already had insurance.
Illinois Gov. JB Pritzker signed a pair of bills Tuesday protecting consumers in the state from unfair home and auto insurance rates.
The new legislation requires home and auto insurers to answer the state's questions about rate hikes and mandates refunds to consumers if they overcharge.
Illinois Gov. JB Pritzker signed a pair of bills Tuesday protecting consumers in the state from unfair home and auto insurance rates.
CBS News Chicago has learned that Illinois home insurance premiums are not only higher than the nation's average, but going up faster too.
Illinois home insurance premiums are not only higher than the nation's average, but going up faster too. As Tara Molina reports, the reason why has to do with climate change and more frequent severe weather.
A bill working its way through the Illinois legislature could mean good news for homeowners and drivers concerned about insurance rates.
Refund amounts for State Farm customers will vary based on their place of residence and insurance premiums.
Illinois Attorney General Kwame Raoul has filed a lawsuit against State Farm, seeking to force the insurance company to turn over homeowner insurance data to the state.
Insurance companies are increasingly using drones and aerial surveillance to snap photos of home, then reviewed by AI, to inform underwriting. That can cause mistakes, like the one that affected a homeowner in Kane County, Illinois.
Insurance companies are increasingly using drones and aerial surveillance to snap photos of home, then reviewed by AI, to inform underwriting. That can cause mistakes, like the one that affected a homeowner in Kane County, Illinois.
The increases are being driven by a combination of climate change, the rising cost of building materials, and surging home prices.
State Farm is planning a major rate hike for Illinois homeowners insurance starting in August.
Insurance experts and watchdogs said the industry was among the first to take notice of climate change — and the rate increase could just be the start.
As climate change whips up wilder weather, more Americans must deal with "hazards they have not faced in the past," expert says.
Experts say insurance companies are paying close attention, and the average person should be doing so too.
As of Tuesday evening, a total of five tornadoes had been confirmed in the Chicago area from the storms Monday night and six Sunday night.
