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Steve Grzanich has the business news of the day with the Wintrust Business Minute.
Bloomington-based State Farm is raising Illinois homeowners’ insurance rates for the second time this year. The hike of 4.2% begins September 15. The increase will push the average premium up by $45 annually. State Farm raised rates in March by 2.4%, a $25 annual increase. Earlier this year, Northbrook-based Allstate raised homeowners’ rates in Illinois by 23% on average.
Also, Chicago commercial real estate professionals have a negative outlook for the rest of 2023. Listen for more below:
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