State Farm wants to raise home insurance rates for Californians by an average of 22% after the company paid out roughly $1 billion in claims due to the Los Angeles fires. As the largest home insurance company in the United States,

State Farm General requested a 22% emergency rate hike in California on Monday, Feb. 3 to cover losses from the Los Angeles County wildfires and stop its “financial deterioration,” the company wrote in a letter filed with the state’s insurance commission.