Day: April 10, 2024

3 Zip Codes Get The Worst of State Farm Non-renew Campaign in California

G. Turner
State Farm - Fire Risk Assessment - Bel Air

In an announcement that may reshuffle the deck for homeowners’ insurance across California, industry giant State Farm revealed a strategic shift in their coverage plans, affecting thousands of property and commercial apartment policies in the state. With implications extending to the very nature of wildfire and earthquake risk management, this move by State Farm is poised to remove billions in risk from the company’s books. Earthquake Aftermath Concerns Amplify Fire Risks in California While earthquake policies in California are indeed underwritten through the state-run California Earthquake Authority, State Farm’s heightened…

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Many families in Louisiana are reaching home insurance desperation

Logan B.
Home Insurance - Stressed at high rates

The state has reached a crisis point in its property coverage market with prices headed steadily skyward. Families affected by the hurricanes that have hit the state in many years have already been facing rapidly climbing home insurance rates, but at the same time, they’re also battling with insurers to pay for the costs they’ve paid to make their homes livable again. Insurers in the state have gone bankrupt, leaving policyholders floundering While settlements from some home insurance companies are protected through the state-backed guaranty association, the process can take…

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