State Farm won’t be renewing about 30,000 policies because of high wildfire and earthquake risk. For San Francisco Chronicle, Megan Fan Munce reports:
The decision affects homeowners policies, rental insurance and other property insurance. The company will not send official notices until July, but some customers have been notified by their State Farm agents that they will be among the 30,000. Recent filings with the California Department of Insurance show where these nonrenewals will be concentrated. State Farm accounts for 8.7% of all home insurance policies in California, according to the latest data, which is from 2022.
I was perusing home prices, as one does during idle times late at night, and saw an area with surprisingly low prices. It makes sense now.
