State Farm General has requested a major rate hike to an insurance program that offers extra liability coverage, which could raise premiums for more than 430,000 policyholders if approved.
The company is seeking to raise rates by 39% for the California Personal Liability Umbrella Program, which provides additional coverage for legal liabilities like steep attorney’s fees from a car accident or damages from a defamation lawsuit. If approved, the requested hike would take effect starting in August and become the second major hike for the umbrella liability program in six months. California regulators approved an earlier 29% rate increase which is impacting customers at their first renewal date following March 1.
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