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State Farm says insurance payouts in Illinois are 'far exceeding' what they take in premiums
Manage episode 496108760 series 3626039
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'The insurance companies are just trying to balance the books on the state level,' says Mark Fitzpatrick, MoneyGeek's personal finance and insurance expert. He joined Chris and Amy as homeowners insurance rates from State Farm are set to increase by 27%. Illinois doesn't have very strict laws that limit rate increases.
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