Home insurance rates to rise for California homeowners – NBC Bay Area

One in eight homeowners in California might experience a spike in their insurance rates due to planned increases by two companies.

Mercury Insurance is the state’s third-largest provider of home insurance. It’s approved to raise by 8.2 percent.

Meanwhile, CSAA, the fifth-largest insurer, will raise rates by 6.2 percent.

They are the first increases under California’s new “Sustainable Insurance Strategy.”

NBC Bay Area’s Kris Sanchez has more in the video above.