the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
Jul 21, 2025
State Farm announced a 27.7% rate increase for homeowners’ insurance in Illinois. Last year, State Farm had already increased rates by 12.3%. Even renters have to pay more because landlords add these increases to the rent.
The insurance company claims it has to increase rates because it paid out more money on claims than it has received in premiums.
With severe weather events like floods, tornadoes, wildfires and others increasing, it’s true that there has been more damage done to homes.
Just recently, State Farm paid out more than $4.2 billion to homeowners affected by the wildfires in California. And scientists predict there will be more extreme weather disasters as climate change continues.
Still, despite these payouts, nationwide, State Farm claimed enormous profits in 2024. So how do they keep their profits up? By increasing rates for all of us.
No matter where you live, even if natural disasters don’t hit you directly, capitalism will make you pay, so that they can keep profiting.