06/06/2026
Two major CA insurers plot massive rate hikes
Source: New York Post
Two major insurers in California plan on raising rates by double digits for single-family homes, which could cause premiums to skyrocket. The AAA-affiliated Interinsurance Exchange of the Automobile Club applied to raise rates for homeowners by 11.2 percent, while rates for condos and people renting a home would drop by 20.5 percent and 27 percent, respectively, according to new filings with the California Department of Insurance. If approved, the impact would vary, with some seeing a decrease by as much as 80 percent, while others could go from paying around $1,650 a year to $13,100.
Travelers Insurance is looking to increase its rates by 6.9 percent for homeowners, and decrease rates by 17 percent for renters, 22.8 percent for condo owners, and 19.6 percent for condo landlords. Only about a quarter of customers would see a rate decrease under Travelers’ proposal, while roughly 60 percent of homeowners would get hit with a bigger bill. Together, the two insurance companies combined cover about 760,000 homes in the state. Both insurers said they would expand the number of new policies it writes if their proposals are approved.
