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Podcast: News For Reasonable People
Episode: #2,760 - Two major California home insurers to raise rates later this year, affecting 666,000 customers
Description: Regulators have given two major insurers the OK to begin raising rates for 660,000 customers starting later this year.Mercury General , the fifth largest home insurer in the state, will begin raising rates in late March for its 579,300 homeowners, condo owners and dwelling rental policyholders by an average of 12% for homeowners (less for condo and rentals), filings with the California Department of Insurance show. And those who get their homeowners insurance through Safeco, a subsidiary of fourth-largest insurer Liberty Mutual, will see rates rise by an average of 7.2% in May. About 86,700 customers are affected.