Falvey discusses insurance trends at Kiwanis Club meeting
Speaking before the Lake City Kiwanis John Falvey, local State Farm insurance agent, talked about the changing world of insurance especially with changes in the climate.
He said home insurance rates went up in Minnesota not because of California fires and storms but because of widespread hail storms here in Minnesota. Each state is responsible for the claims in their state only, such as the $1.2 billion dollars in hail damage claims paid by State Farm in 2023 in Minnesota alone.
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