A week after winning emergency approval to raise Californians’ home insurance premiums, State Farm is seeking to boost that rate hike even higher to 30%.

On May 13, the state’s largest insurance company got the OK from regulators to increase rates by an average of 17% starting next month. State Farm secured the expedited rate hike after asserting it was in financial distress and expected $7.6 billion in claims arising from the deadly Los Angeles wildfires in January.

The “interim” rate increase, however, was only part of a 30% hike the company asked for in June 2024.

To reach the full amount, State Farm filed a request last week for an 11% increase starting next year, on top of the already approved 17% increase. Since the hikes would happen sequentially, they would have the effect of raising rates by 30%.

State Farm is also requesting to raise rates by 36% for condos and 52% for renters.

The California Department of Insurance said it will hold a public hearing in October to continue gathering information from company officials as they seek to justify the requests.

“State Farm wanting a rate increase doesn’t change the law,” the agency said in a statement. “All rates must be justified so consumers don’t pay more than is required.”

It’s unclear exactly how much premiums could go up in the Bay Area or which parts of the region would see the largest rate hikes. Statewide, the insurer covers roughly 15% of homes, totaling more than 1 million customers.

When State Farm made its initial 30% request last June, the company asked the insurance department to grant a “variance” to raise premiums