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State Farm Seeks Major Rate Hikes for California Homeowners and Renters

State Farm General is seeking to dramatically increase residential insurance rates for millions of Californians, a move that would deepen the state’s ongoing crisis over housing coverage. Source: LA Times | Published on July 1, 2024 Read the article here: https://programbusiness.com/news/state-farm-seeks-major-rate-hikes-for-california-homeowners-and-renters/

Home Insurance at $10,000 a Year Shows California Buyers’ Pain

California’s lofty home prices and scarce inventory already amounted to one of the most nightmarish housing markets in the US. Now, challenges securing and affording home insurance in the wildfire-prone state are making it even worse. Read the full article here: https://www.insurancejournal.com/news/west/2024/06/24/780707.htm#

Thousands more Californians will lose their home insurance this summer as two more insurers withdraw from the state.

It looks like we are loosing two more home insurers in California this July. California Homeowners Insurance Crisis: Thousands to Lose Coverage as Two More Insurers Withdraw