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

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company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t renew the policies on 30,000 houses and 42,000 apartments, the Bay Area News Group reported Thursday.

  • Corkyskog@sh.itjust.works
    6·
    9 months ago

    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.

    • Kalysta@lemm.ee
      1·
      9 months ago

      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.