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From 2012 to 2021, home insurers in California lost money on underwriting and insurance transactions, while nationwide average profit margins on those deals were 3.6% to 4.2%, respectively.
Just as wildfire season begins, State Farm General Insurance Company, State Farm's provider of homeowners insurance in California, announced it would not accept any new applications for home ...
Allstate is still offering home insurance coverage to ... [This report has been corrected with regard to the timing of Allstate's decision to pull back from offering insurance in California, which ...
California’s property insurance rates are set by the state, which has led many property insurers such as State Farm and Allstate to stop accepting new customers or leave the state entirely ...
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
Despite this significant market share, only 14% of all residential insurance policyholders in the state had earthquake coverage. This percentage includes various types of dwellings, with homeowners and condo owners at approximately 16%, renters at 14%, and mobile home owners at 20%. [3]
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