"California Faces 35% Car Insurance Hike as Companies Exit State"

Californians are facing a potential 35% increase in car insurance rates as many insurance companies are leaving the state due to regulatory challenges. With only two major insurers remaining, customers are experiencing significant price hikes, with one individual seeing their premium double. The exodus of insurance companies is attributed to Proposition 103, which requires all rate increases above 6.9% to be approved by the California Department of Insurance. As a result, many companies are halting new policy writing or leaving the state altogether, leaving consumers with limited options and higher costs.