Farmers Insurance Implements Home Policy Restrictions in California
Farmers Insurance is placing limits on new homeowners policies in California, following similar announcements by All State and State Farm. The move comes as homeowners in wildfire-prone areas struggle to find affordable fire insurance. Critics argue that insurance companies are trying to pressure state regulators into approving rate hikes. Homeowners like Suki Dennis are left with limited options and are forced to pay high premiums, with Dennis now paying close to $7,000 a year for coverage.