State Farm no longer offering home insurance in California

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State Farm will no longer offer home and property insurance to new customers in California starting Saturday, the company said in a press release. The insurance company pointed to “historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market” for its decision, making particular note of the risk posed by….
State Farm will no longer offer home and property insurance to new customers in California starting Saturday, the company said in a press release. The insurance company pointed to “historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market” for its decision, making particular note of the risk posed by…

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