State Farm Stops Offering Insurance in California
The largest insurer in California said it would stop offering new coverage. It’s part of a broader trend of companies pulling back from dangerous areas.
Source: nytimes.com
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Wildfires and expensive rebuilding wiped out profits among California home insurers. State Farm isn’t the first insurer to retreat from the state, and may not be the last. Story from @CalMatters.
Source: lostcoastoutpost.com
Calif. scared off its biggest insurer. More could follow.
Proposition 103 was passed in 1988 to control auto insurance rates. It's destroying the property insurance market, experts say.
Source: eenews.net
Why State Farm isn't selling new California home insurance
Deadly wildfires and expensive construction costs are driving State Farm out of California's home insurance market.
Source: calmatters.org
State Farm Exits California Homeowners' Insurance Market
Inflation, construction costs and intensifying wildfire seasons pushed State Farm to stop taking new homeowners' insurance applications in California.
Source: inman.com