State Farm to Drop 72,000 Home Policies in California After Pausing Sales Last Year

Published on March 22, 2024

With the state facing what some are calling an insurance availability crisis, industry leader State Farm announced March 20 that it will not renew about 72,000 policies across California. “State Farm General Insurance Company … is working to ensure its long-term sustainability in California,” the company said in a press release announcing the plan. “In doing so, [the company] has had to make some difficult but necessary decisions that will impact a portion of our California policyholders.” Approximately 30,000 homes, rental units, and other dwellings will be impacted along with approximately 42,000 commercial apartment policies. The insurer said it is withdrawing completely from the latter. The total impact represents about 2 percent of the company’s business in California, according to the press release....

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