State Farm announces harsh decision after LA wildfires
The insurer has sounded the alarm on a growing problem, leading it to make a controversial move.
![State Farm announces harsh decision after LA wildfires](https://www.thestreet.com/.image/c_fit,h_800,w_1200/MjA1MjAxNzQxMjc1MjExMzk2/statefarm-raises-california-homeowners-insurance-rate-by-20-percent.jpg?#)
January was a devastating month for Los Angeles as it battled two ferocious wildfires, Palisades and Eaton, which burned over 57,000 acres of land and killed roughly 30 people.
The fires burned for three weeks straight before finally being contained on Jan. 31. The cause of the fires is still unknown, however, weather forecasters claim that high winds, severe drought conditions and low humidity made the fires exceptionally destructive.