State Farm is raising homeowners insurance rates in Illinois by a whopping 27.2% beginning Aug. 15, according to a filing with the state last month. The rate hike, one of the largest in the state’s history, will affect nearly 1.5 million policyholders. New policyholders will pay the higher rates as of Tuesday.

State Farm is defending its 27% rate hike on Illinois homeowner insurance policies, calling Gov. JB Pritzker's condemnation "factually incorrect."

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

State Farm says in 13 of the last 15 years, it paid out more than budgeted to cover damage from severe weather events in Illinois.