This is the second time State Farm General's financial rating has been downgraded since the Los Angeles wildfires. Insurers' financial ratings impact whether their clients can get mortgages.

State Farm General is the largest home insurance company in California, covering about 15% of all homes in the state. It's also been very public about its rapidly deteriorating financial condition: In ...

Six months after the Southern California wildfires, recovery shows mixed progress with corporations buying land while ...

State Farm currently insures over 20% — about a million — of California homes. The insurer dropped 30,000 policies last spring. The company is no stranger to rate hikes.

While changes are being proposed, it may be helpful to view these impediments as a company would, thinking of them as “the cost of doing business” in California.

State Farm has moved to raise its homeowners insurance premiums by 30% in California, a state far more in the news for weather catastrophes and insurance market turbulence.