State Farm's Homeowners Insurance Cancellations: Local Impact and Affected Zip Codes

1 min read
Source: FOX 5 San Diego
State Farm's Homeowners Insurance Cancellations: Local Impact and Affected Zip Codes
Photo: FOX 5 San Diego
TL;DR Summary

State Farm is dropping 30,000 homeowner’s insurance policies in California, affecting residents in 50 zip codes across San Diego County due to inflation, regulatory costs, and increasing catastrophe risks. Former San Diego Councilmember Scott Sherman attributes the issue to politics and regulatory restrictions, leading to limited options and soaring premiums for affected policyholders. Governor Gavin Newsom's emergency declaration aims to address the situation, with impacted customers retaining coverage until their current contracts expire.

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