State Farm won’t insure new Calif. customers due to wildfires, high costs:
washingtonpost.com/business/2023/05/28/statefarm-insurance-california-wildfires/
Quick Glance: State Farm Ceases New Applications for Property Insurance in California
- No new applications for personal and business property coverage.
- The move doesn't affect personal vehicle insurance.
- Reasons for the decision include rising construction costs, growing catastrophe exposure, and a challenging reinsurance market.
- State Farm agents will continue to serve existing customers.
Story Details
| Last Updated | May 29 23 |
| Total Articles | 19 |
News on this topic
State Farm has stopped accepting homeowner insurance applications in California: The announcement is the latest development in what has been a years-long issue ...
npr.org/2023/05/28/1178648989/state-farm-home-insurance-california-wildfires-inflation
State Farm stops insuring California homes
theweek.com/california-wildfires/1023881/state-farm-stops-insuring-california-homes-citing-rising-risk
"Historic increases in construction costs" led to the decision, the insurance company says. trib.al/FZmWlEf
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Previous
State Farm won’t insure new Calif. customers due to wildfires, high costs: State Farm said it will no longer accept homeowner insurance applications in ...
washingtonpost.com/business/2023/05/28/statefarm-insurance-california-wildfires/
State Farm has stopped accepting homeowner insurance applications in California: The announcement is the latest development in what has been a years-long issue ...
npr.org/2023/05/28/1178648989/state-farm-home-insurance-california-wildfires-inflation
State Farm stops insuring California homes
theweek.com/california-wildfires/1023881/state-farm-stops-insuring-california-homes-citing-rising-risk
State Farm Halts New Homeowner Insurance In California Due To Wildfires: Insurance companies have been trying to cut back on homeowner policies in the Golden ...
huffpost.com/entry/state-farm-stops-homeowner-insurance-california-wildfires_n_647388a0e4b0047ed77c32af
Insurance giant halts sale of new home policies in California due to wildfires: State Farm also cites inflation of construction costs in statement which comes ...
theguardian.com/us-news/2023/may/27/state-farm-home-insurance-california-wildfires
Insurer cites "growing catastrophe exposure" as it stops new sales in California
axios.com/2023/05/29/state-farm-home-insurance-california-wildfires
It’s Getting Harder to Insure Your Property If You Live in California: California residents now have fewer options to insure their homes, after State Farm ...
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State Farm no longer offering home insurance in California: State Farm will no longer offer home and property insurance to new customers in California starting ...
thehill.com/business/4023994-state-farm-no-longer-offering-home-insurance-in-california/
State Farm halts new property insurance policies in California: The company cited rising construction costs and its “rapidly growing catastrophe exposure.”
ocregister.com/2023/05/26/state-farm-says-no-new-property-insurance-clients-in-california
State Farm not accepting property insurance applications : The company blames 'increases in construction costs outpacing inflation, rapidly growing catastrophe ...
latimes.com/california/story/2023-05-27/state-farm-is-no-longer-accepting-property-insurance-applications-in-california
State Farm to stop accepting homeowners insurance applications in California due to wildfires, construction costs
cnbc.com/2023/05/27/state-farm-to-stop-accepting-homeowners-insurance-applications-in-california.html
California's largest property insurer halts new policies, cites fires: California's largest property insurer stops issuing new home policies due to wildfire risk ...
sfchronicle.com/california-wildfires/article/state-farm-stops-california-home-insurance-18122670.php
State Farm ceasing new applications in California for property insurance, other policies
foxbusiness.com/real-estate/state-farm-ceasing-new-applications-california-property-insurance-other-policies
State Farm halts new property insurance policies in California: State Farm said Friday that it will stop accepting new applications for property and casualty ...
pressdemocrat.com/article/news/state-farm-halts-new-property-insurance-policies-in-california/
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The home insurance market is crumbling. These owners are paying the price: The home insurance market is crumbling in New Orleans, leaving Alfredo Herrera with ...
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Paid articlePaidQuick Glance: Rising Premiums: Challenges in the Home Insurance Market
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- Many homeowners in Louisiana and other vulnerable areas have had similar experiences. The increasing insurance costs are due to higher expenses for insurers, including severe storms and higher replacement costs. This results in even homeowners in less risky areas paying higher premiums.
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- Rising premiums are burdening homeowners like Diana Troxell in California, who are struggling to cope with significant premium increases. The situation has led to financial difficulties for some homeowners, forcing them to resort to state-supported insurance plans to obtain coverage.
State Farm Cuts 72,000 California Policies, Citing Wildfire Risk: State Farm General Insurance Co. will cut about 72,000 policies in California beginning in July ...
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California commissioner, Farmers CEO ‘look outside’ for answers to insurance crisis
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Bel-Air, Pacific Palisades residents lose insurance as State Farm exits: Thousands of Californians who won’t see their home insurance renewed by State Farm this ...
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Are California homeowners getting any insurance breaks for beefing up their property to protect against wildfires?
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Why are State Farm and others leaving California's home insurance market? Answers for beleaguered homeowners
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California home insurance exodus pushes state’s last-resort backup plan toward insolvency
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| Edmonton Journal: California drivers are facing steep price increases and challenges securing insurance coverage. It should serve as a cautionary tale.
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California should require insurances to cover homeowners who protect property, advocate says
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