State Farm homeowners insurance Archives

State Farm will no longer sell home insurance in wildfire-prone California

May 31, 2023May 30, 2023 Julie Campbell

The giant has announced that it is leaving the state’s homeowners’ market due to high risk and construction costs. State Farm has announced that due to spiking wildfire risks and construction costs, it is leaving selling in California’s home insurance market altogether. The insurer is stopping new sales of the coverage in the state, which it says has become too expensive. State Farm issued an official media release to announce its withdrawal from the home insurance market in California. It stopped accepting business and personal applications on May 27. That…

State Farm home insurance and ADT partner up for loss prevention and detection

September 8, 2022September 7, 2022 Nordstrom

The insurer recently announced an investment of $1.2 billion into the security company. State Farm recently announced that it has invested $1.2 billion into the ADT Inc security company, for approximately 15 percent equity and a move to support new home insurance advancements. The partnership between the two companies allows the insurer to imagine new forms of coverage. By working with ADT security, State Farm will be looking into ways to innovate the home insurance experience. This could include new applications for Smart Home technology to be applied to property…

State Farm Neighborhood Assist seeks votes for 2021 grant finalists

August 19, 2021August 18, 2021 Nordstrom

The insurance company is holding its annual support event for non-profits for the tenth year. This year marks the tenth anniversary that State Farm Neighborhood Assist will be awarding 40 non-profit organizations with $25,000 each. The grants are meant to help the non-profits to fund local community improvement projects. Voting for the finalists for the State Farm Neighborhood Assist grants is already underway. The public can continue to vote for the organizations they want to win from now through August 27. Any individual is able to vote up to 10…

State Farm homeowners insurance not required to cut rates, says judge

March 29, 2018March 28, 2018 Marc

State Farm homeowners insurance - State Farm Office

The California Department of Insurance has been fighting a legal battle with the insurer over premiums. The California insurance commissioner was wrong in saying that State farm homeowners insurance rates had to lower. A judge ruled that the insurer was not required to charge its home and renter policyholders less. The decision stepped around a current unresolved question regarding Proposition 103 and its reach. Proposition 103’s author was among those who criticized the decision regarding State Farm homeowners insurance rates. California Insurance Commissioner Dave Jones accused State Farm of profiting…

State Farm homeowners insurance customers may soon receive a refund

May 16, 2017May 13, 2017 H. Cutner

The same may be said for many renters insurance policyholders in California. State Farm homeowners insurance and renters insurance customers in California may soon be receiving refund payments. The insurer is sending the checks to customers as a result of a decision made by the state Department of Insurance. The California Department of Insurance told State Farm it needed to repay policyholders due to excessive rates. The department deemed the rates charged to State Farm homeowners insurance and renters insurance customers to be excessive. As a result, about 250,000 policyholders…

Homeowners insurance in Dallas more expensive at State Farm than competition

August 7, 2013August 5, 2013 G. Turner

A recent analysis has revealed that the insurer is charging more for coverage of homes in the area than its rivals. According to the results of an analysis that was just conducted and that involved data regarding the premiums of 32 different homeowners insurance companies in the Dallas areas, State farm – the largest property insurer in Texas – is continuing to charge the highest rates, by a long shot. In fact, the latest figures are showing that the next most expensive are nowhere near as high. The study took…

Homeowners insurance rates at State Farm to decrease in California

February 13, 2013April 30, 2013

It is estimated that the average premiums will drop by 12.6 percent across the state, starting April 15. The largest homeowners insurance company in California has just announced that it will be reducing its rates across the state by an average of 12.6 percent for over one million customers, as of halfway through April. The average customer should expect to see an annual reduction in premiums of about $100 in 2013. The actual drop that will be seen in the rates paid by consumers will vary from one area to…