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.

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,

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

State Farm is raising home insurance rates 27% due to inflation and severe weather, saying it's been spending more than it's taking in. But one Illinois lawmaker looking to limit rate hikes retorted,

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.

State Farm’s plan to raise homeowners insurance rates by more than half a billion dollars in Illinois has reignited calls from consumer advocates to overhaul how the state oversees insurance rates. “Home insurance rates are on the rise in Illinois due to rising home replacement costs and more frequent severe weather

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.