State Farm’s plan to raise homeowners insurance rates by more than half a billion dollars in Illinois has reignited calls from consumer advocates to overhaul how the state oversees insurance rates. “Home insurance rates are on the rise in Illinois due to rising home replacement costs and more frequent severe weather events that are driving up the cost and frequency of claims,

Karl Susman, insurance expert, talks about what State Farm wants in rate increases and the likelihood of approval by the Department of Insurance.

Many Illinois homeowners will soon see their home insurance rates skyrocket due to the increase in extreme weather events.