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Over the last 9 years, the lack of alignment between price and risk means that for every $1.00 collected in premium, State Farm General has spent $1.26, resulting in over $5 billion in cumulative ...
In the Pacific Palisades, where State Farm recently canceled over 1,600 policies a few months ago, FAIR plan residential plans in the 90272 zip code grew 85% from 2023 to 2024.
State Farm canceled 72,000 policies in California, nearly half of which were for home insurance, Barron’s reported. Allstate stopped selling policies in the Golden State for businesses and ...
In February 2025, State Farm, the largest home insurer in California, requested state regulators to approve an emergency rate increase due to the financial strain caused by payouts related to the January 2025 Southern California wildfires. The company is seeking an average rate hike of 22%, effective May 1, 2025.
State Farm is seeking increases of as much as 52% for some of its residential insurance rates in California, which could ramp up the financial burden for many homeowners and renters in the state ...
State Farm, California’s largest insurer, said last year that it could drop more than 1 million policies in the state over the next five years — a signal that private insurers’ retreat from ...
For instance, in Northern California, 20% of homebuilders surveyed, at the time, said that buyers’ concerns over property insurance are somewhat slowing sales, and in Southern California, 29% of ...
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