State Farm Announces Non-Renewal Of 72,000 Insurance Policies In California

By News on the Net -- California Globe —— Bio and Archives March 23, 2024

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In an announcement on Thursday, the largest property and casualty insurance company in California, State Farm Insurance, announced that 30,000 property insurance and 42,000 commercial apartment policies would not be renewed throughout the state, effectively removing 2% of all policies from California.

For over a year, State Farm and other insurance companies have been slowly limiting policies, ending the allowance of new policies, or generally reducing their presence in the state. In 2022, GEICO closed down all 38 of their offices in the state, with State Farm raising driving insurance rates in March of 2023. ---More...