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

Many Illinois homeowners will soon see their home insurance rates skyrocket due to the increase in extreme weather events.

Homeowners in Illinois could soon see a large insurance rate increase under a recent filing in the state. State Farm revealed plans for a substantial rate hike due to what it said was an increase in catastrophic weather events.