State Farm Seeks Major Rate Hikes for California Homeowners and Renters

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

A wildfire fueled by gusty Santa Ana winds destroyed homes as it ripped through rural land southeast of Los Angeles, on Oct. 31, 2023.

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