California Insurance Commissioner John Garamendi today announced that State Farm Insurance has requested a 10.6 percent reduction in homeowners’ insurance rates.

The Department of Insurance in June ordered four major insurers to justify their rates after a study alleged they had been paying far less to resolve claims than they collected in premiums.

USAA filed for a 22 percent reduction in August, while Allstate is seeking a 12.2 percent increase. Garamendi said State Farm’s move would save about 1.2 million homeowners an average of $103 a year.

The California Department of Insurance is also seeking to reduce title insurance rates, proposing a 23 percent rollback in March that would save consumers $1 billion a year. Title insurers say the state lacks the authority to cap rates unless there is a lack of competition in the industry.

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