State Farm is hitting Illinois homeowners with another rate hike.
The insurance company said severe weather trends are forcing it to raise rates by 8% this fall.
The increase went into effect for new policies on Oct. 1. Current customers will see the change take effect in December.
Last year, State Farm hit Illinois homeowners with an increase of over 27%.
State Farm is based in downstate Bloomington, and has nearly 1.5 million policyholders in Illinois.
In August, Gov. JB Pritzker signed legislation protecting consumers in the state from "excessive, inadequate, or unfairly discriminatory" insurance rate changes for homeowners and automobile policies.
One of the bills signed today requires companies to give 60 days' notice before homeowners' insurance renewal premiums rise over 10%. The other focuses on car insurance rates, and allows state regulators to review, audit, and challenge what they deem excessive hikes or unfairly discriminatory practices.
This past summer's storm damage has left many Illinoisans wondering how they can afford to rebuild as they balance construction and everyday costs with insurance premiums.
The legislation approved in August is meant to address that. It requires home and auto insurers to answer the state's questions about rate hikes and mandates refunds to consumers if they overcharge.
