Citing the "dire" financial situation they're facing after the Los Angeles wildfires, State Farm General has asked California officials for an emergency interim rate increase. The rate hike could work out to an average increase of 22% for California homeowners,

State Farm is seeking emergency rate hikes of up to 38% for California homeowners, renters and landlords following wildfire losses.

State Farm said it wants to raise rates for millions of California homeowners due to increasing wildfire risks.