"California Insurers Non-Renew Thousands of Home Insurance Policies, Prompting Statewide Changes"
TL;DR
State Farm is canceling 72,000 policies in California, including 30,000 homes, due to high risk and financial concerns, impacting upscale neighborhoods in Los Angeles County. The decision follows record-breaking wildfire seasons and industry losses. The company cites the need to reduce exposure and financial strength. The cancellation affects various SoCal zip codes, prompting concerns about insurance options and coverage for homeowners in high-risk areas.
- State Farm cancellations in Southern California: Here's a list of zip codes impacted by insurer's non-renewal plan KABC-TV
- One Calif. home insurance company won't be renewing 30K policies SFGATE
- CA insurance chief urges insurers to ‘look outside’ for answers CalMatters
- California bill could change home insurance prices Sacramento Bee
- State Farm indicates where homeowner's policies won't be renewed in San Diego: Report NBC San Diego
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