State Farm Was All In on California—Until It Pulled the Plug
In 2022, State Farm’s board of directors learned there was a one-in-20 risk every year of fire that could cripple the California subsidiary, a person close to the situation said.
California wildfire backlash: State Farm, other insurers slammed …
Jan 9, 2025 · The outbreak of deadly wildfires in Southern California has prompted criticism of insurers who have dropped coverage in the state due to regulations that make it hard to price for risk.
State Farm asks for more insurance rate increases after LA fires
Feb 4, 2025 · State Farm, the largest insurer for California homeowners, this week asked the state to approve “emergency” rate increases for insurance policy holders, saying the recent Los Angeles County fires have imperiled its finances.
State Farm seeks emergency rate increase averaging 22% after L.A. fires
Feb 3, 2025 · State Farm General, California’s largest home insurer, asked state officials for an emergency rate hike averaging 22% Monday, saying the Los Angeles County fires have put the company in...
State Farm Seeks an Urgent Increase in California Rates After Fires ...
Feb 3, 2025 · State Farm has received more than 8,700 claims from the Los Angeles fires alone and paid more than $1 billion to customers, the company said. It expects to pay out significantly more.
Thousands of Los Angeles homeowners were dropped by their …
Jan 20, 2025 · About 1,600 policies in Pacific Palisades were dropped by State Farm in July, California Department of Insurance spokesman Michael Soller said in an Thursday email to CBS MoneyWatch.
State Farm® is here to help California customers impacted by wildfires
Catastrophe Customer Care sites are open in California for customers to walk-up for claim assistance and help with general questions.UPDATE: Due to declining in-person customer activity, our two catastrophe care sites in Los Angeles will be consolidated into one remaining site at the Santa Monica College – Bundy Campus. The Home Depot location at 12975 W Jefferson Blvd. will close end of day ...
State Farm’s California insurance woes could worsen with fires
Jan 17, 2025 · State Farm is the largest insurer in California and has significant exposure in Pacific Palisades and other fire areas of Los Angeles County. Months before the Los Angeles wildfires...
California insurer canceled policies months before Los Angeles wildfires
Jan 8, 2025 · State Farm, one of the biggest insurers in California, canceled hundreds of homeowners' policies last summer in Pacific Palisades—the same area which is now being ravaged by a devastating...
State Farm offers policy renewals for homeowners ... - NBC Los …
Jan 16, 2025 · State Farm, one of the largest insurers in California, announced Wednesday that it will offer policy renewals to homeowners impacted by the wildfires that erupted in the Los Angeles area last...