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State Farm discontinuing 72,000 home policies in California in latest blow to state insurance market

apnews.com State Farm discontinuing 72,000 home policies in California in latest blow to state insurance market

Insurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer.

State Farm discontinuing 72,000 home policies in California in latest blow to state insurance market

State Farm will discontinue coverage for 72,000 houses and apartments in California starting this summer, the insurance giant said this week, nine months after announcing it would not issue new home policies in the state

The Illinois-based company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t renew the policies on 30,000 houses and 42,000 apartments, the Bay Area News Group reported Thursday.

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