State Farm halts new home insurance sales in California over wildfire risks.
Originally Published 2 years ago — by NPR
State Farm has stopped accepting homeowner insurance applications in California due to the growing risk from catastrophes like wildfires and the rising cost to rebuild. The decision went into effect on Saturday and applies to both personal and business properties. State Farm was the leading company offering home insurance in California. The company said it will continue to serve existing customers, as well as offer personal auto insurance.