Gov. JB Pritzker wasted no time in calling on state legislators to do something about rising insurance rates after State Farm announced it was hiking homeowners insurance by 27.2% beginning this month,

State Farm is planning a major rate hike for Illinois home insurance starting in August. The insurance company is raising its home insurance rates by 27% on average, the company confirmed in an email to CBS News Chicago.

Illinois homeowners face an average 27% premium spike as State Farm cites severe weather and rising costs. Governor Pritzker blasts the hike as “un

The increase affects nearly 1.5 million State Farm customers and comes alongside a newly implemented 1 percent minimum deductible.

State Farm insures nearly one-third of all homeowners in the state. Gov. Pritzker calls the recent hike announcement "unfair and arbitrary."

Illinois Governor JB Pritzker (pictured above) is urging lawmakers to grant new oversight powers to the state’s insurance regulatory body following State Farm ’s decision to implement a 27.2% increase in homeowners’ insurance rates. The move has prompted broader debate about the state’s approach to insurance rate regulation.

JB Pritzker wasted no time in calling on state legislators to do something about rising insurance rates after State Farm announced it was hiking homeowners insurance by 27.2% beginning this month, citing rising costs due to extreme weather events and pricier repairs.

The cost of homeowners insurance is going up for many Californians, as the state's insurance commissioner allowed State Farm's emergency rate to go up by 17% for homeowner policies. State Farm representatives asked a judge for permission to keep documents that they say justify the rate increases away from the public.