California Homeowners Face Insurance Challenges as Major Insurers Limit Coverage
TL;DR Summary
Farmers Insurance, the second-largest provider of homeowners insurance in California, has limited new policies in the state due to high costs and wildfire risks. This follows similar decisions by State Farm and Allstate, who cited the same reasons for no longer writing new homeowners policies in California. Rising temperatures worldwide increase the risk of extreme wildfires in the coming years.
Topics:business#california#farmers-insurance#homeowners-insurance#insurance#insurance-providers#wildfire-risks
- Another major insurance company limits new homeowners insurance in California The Mercury News
- Farmers, California's No. 2 insurer, caps new home insurance Los Angeles Times
- What to do if your homeowners policy is canceled in California The Santa Rosa Press Democrat
- Local agent explains changes to Farmers Insurance coverage in California Action News Now
- Here’s what to do if no one will insure your home KTLA Los Angeles
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