State Farm insures nearly one-third of all homeowners in the state. Gov. Pritzker calls the recent hike announcement "unfair and arbitrary."

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

Illinois homeowners are facing a sharp increase in insurance premiums soon, as State Farm implements a hike for both new and renewing homeowners’ policies across the state. According to State Farm,