Insurers are seeking to charge California homeowners across the state for the costs of the catastrophic Los Angeles County fires they were burdened with when the state's insurer of last resort needed a bailout.

State Farm can start increasing its homeowner rates in California by 17 percent from June 1 following approval from the state's insurance commissioner.

State Farm has argued the emergency rate hikes are necessary to help the company avoid a “dire” financial crisis that could force them to drop more California policies.