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company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t renew the policies on 30,000 houses and 42,000 apartments, the Bay Area News Group reported Thursday.
What climate catastrophe-free area of the country does State Farm think it will make sense to still insure homes in?
Also, I thought they were like a good neighbor.
“Like a good neighbor, State Farm is there” means that they resemble a good neighbor only insofar as both share the attribute of existence.
At least Geico is relatively honest. “Yes, we are a bunch of reptiles.”
Non-coastal new England is pretty safe. No earthquakes, few hurricane effects, almost no tornadoes, tends to stay damp enough and has enough old deciduous growth, where forest fires aren’t a big issue.
I am sure there are other places that are low risk as well.
And if the entire population of the country moves there due to insurance pulling out of everywhere else, non coastal new england will turn into San Francisco.
This isn’t the answer you think it is.
I was just answering the simple question, not providing a solution to a problem.
Where does the CEO live again?
Chicago area, apparently. Not exactly free from climate catastrophes.
No place is 100% safe. Around the great lakes is probably one of the best places to be going forward though.