State Farm looks to raise property insurance rates in wake of deadly Los Angeles wildfires

Three months ago, Alex Markarian was elated to learn his house was still standing after the intense flames from the Palisades Fire tore through homes just across the street. 

"The house is damaged," Markarian said. "The fire actually got very close and singed part of the house." 

Markarian's home was still standing, but almost everything inside was destroyed. He's expecting his insurer of 15 years, State Farm, to pay for it.