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State Farm, the largest home insurance company in California, announced in March 2024 that it would discontinue coverage of 72,000 home and apartment policies in the summer.
State Farm has regularly used similar reasoning in recent years when refusing to pay for water damage in California, according to attorneys and claim evaluators who work on behalf of policyholders.
State Farm, California's largest insurer, has disclosed state zip codes where it will discontinue homeowners insurance coverage, with Bay Area and Northern California locations topping the list.
State Farm has said it is facing financial challenges in California. In recent years, it announced a pause on adding new policies and that it would drop coverage for roughly 72,000 properties ...
6monon MSN
State Farm, California's largest home insurance provider, announced in 2023 that it would no longer accept applications for ...
After State Farm announced it will not renew more than 70,000 insurance policies in California over the next year, the state's insurance commissioner is speaking out.
To clarify, State Farm, Allstate Farmers USAA, Travelers, Nationwide and Chubb are still active in California, they have just either limited or stopped writing new home insurance policies.
California insurer State Farm is asking regulators for another rate hike, less than a week after it was granted permission to temporarily charge an extra 17 percent for homeowners' insurance policies.
California's Department of Insurance released rules meant to encourage insurers to write more policies in high-fire-risk areas by using computer modeling.
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