General Discussion

kysrsoze

(6,021 posts)

5. It's not across the board. It's 2% of State Farm CA policies...

Wed Mar 20, 2024, 05:40 PM

Mar 20

Not good for those 70K, but it doesn’t affect all of us out here…

“Specifically, the company plans to discontinue renewals for around 30,000 policies, including homeowners, rental dwellings, and other property insurance such as those for residential community associations and business owners. Last year the insurer halted new homeowners policies being issued in the state.

State Farm General has also decided to exit the commercial apartment policy sector, affecting an additional 42,000 policies. These measures, slated to begin on July 3, 2024, for the former group and August 20, 2024, for the latter, account for a little more than 2% of the company's total policy count in California.”

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Friends & DU family, if you live in CA and have State Farm homeowner's insurance... [View all] CousinIT Mar 20 OP

It's not the only company doing this. RandySF Mar 20 #1

I know. It's getting scary. I expect most coastal areas will be ininsurable as well as... CousinIT Mar 20 #2

If you can't get insurance you can't get a mortgage. Thus only the ultra wealthy and investors kelly1mm Mar 20 #4

scary times BlueWaveNeverEnd Mar 20 #3

It's not across the board. It's 2% of State Farm CA policies... kysrsoze Mar 20 #5