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State Farm, other insurers slammed for dropping coverage
CA wildfire backlash: State Farm, other insurers slammed for dropping coverage
The outbreak of deadly wildfires in Southern California has prompted criticism of insurers who have dropped coverage in the state due to regulations that make it hard to price for risk.
Yes, State Farm ended insurance coverage for many in the Pacific Palisades in 2024
State Farm cited “catastrophe exposure” as one reason it wasn’t renewing policies for many Californians, including those in Los Angeles’ Pacific Palisades.
State Farm canceled California homeowners’ insurance policies months before wildfires
The insurance company canceled thousands of California homeowners' insurance policies last year in an attempt to avoid "financial failure."
53m
Victims of the Pacific Palisades fire face another harsh reality: No insurance to rebuild
Insurers have been cutting coverage for thousands of homeowners across the neighborhoods most affected by this week's ...
20h
on MSN
Before the Palisades Fire, many of those homeowners had lost insurance
About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.
8h
on MSN
California is in a home-insurance crisis. The Pacific Palisades fire will only make it worse
We need to make it incredibly expensive to build in these kinds of environments,’ one expert told The Independent. ‘If the ...
14h
on MSN
Valley representatives warn of California’s harsh fire insurance reality
Last year, State Farm said it was cancelling coverage for 72,000 houses and apartments in California. Local representatives said millions of residents whose homes were ...
Grist
1d
California overhauled its insurance system. Then Los Angeles caught fire.
The Palisades Fire could cause more than $10 billion in damages, further straining the state’s fragile insurance market.
ConsumerAffairs
1d
First the fire, then the insurance vacuum
First your home burns to the ground, then you remember that the insurance company canceled your policy a few months ...
LAist on MSN
17h
How will LA's devastating fire losses affect insurance and home costs?
The current fires are on track to become one of the most costly disasters in California history. That could threaten the ...
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