Pritzker Responds to State Farm Homeowners Insurance Rate Increase

State Farm announced homeowners insurance rates in Illinois will increase by an average of 27 percent this year, prompting a rare pushback from Governor JB Pritzker. The Bloomington-based State Farm said inflationary costs for home repairs and replacement and more frequent severe storms are causing the increase. Pritzker called the rate hikes “unfair and arbitrary” and shift the cost of catastrophes in other states to Illinoisans. State Farm said the increases are priced for risk in Illinois and not for losses in other states.