Posted 3/21/2024, 10:42:45 PM
State Farm Drops 72,000 California Home Policies Over Wildfire Risks
- State Farm to drop 72,000 home and apartment policies in California, citing rising costs and wildfire risk
- Move comes less than a year after State Farm stopped issuing new policies in the state
- State Farm has 20% of California's home insurance market, largest in the state
- Those dropped likely high wildfire risk properties with limited coverage options
- State insurance commissioner reviewing regulations to stabilize imploding market
