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California isn’t the only state facing pressure on its “last resort” insurance plan. Florida covers nearly 1 million households on its Citizens Plan, making it the largest property insurer ...
State Farm, California’s largest insurance provider, is asking for a 22 percent interim rate hike for California homeowners just week after the deadly Los Angeles wildfires (Getty Images)
California Insurance Crisis: List Of Carriers That Have Fled Or Reduced Coverage In The State. The insurer is looking to increase rates by 22% for non-tenant homeowners, 15% for renters and condo ...
Citing what it calls a potentially “dire situation,” State Farm on Monday asked California for permission to hike insurance rates by an average of 22%. In the wake of the Los Angeles-area ...
A State Farm insurance company sign sits amid the rubble of a building destroyed by the Palisades Fire on Sunset Boulevard in the Pacific Palisades neighborhood of Los Angeles on January 16, 2025.
State Farm, the state's largest home insurer, announced in March it would not renew 72,000 property insurance policies, while Chubb and its subsidiaries stopped writing new high-value homes with ...
In 2023, Farmers announced a moratorium on new policies in the Sunshine State, the 15th insurer to do so over an 18-month period, and State Farm, California’s biggest homeowners insurer, did the ...
The financial fallout from the fires may also deliver a fatal blow to California’s crumbling insurance industry. Many leading providers like State Farm and Costco have already restricted or ...