State Farm issues thousands of California home insurance non-renewals

California home insurance - Non-Renewals

The insurer is also withdrawing from the sale of commercial apartment policies in the state State Farm recently announced that it will be issuing around 30,000 non-renewal notices California home insurance and rental homeowners policies. The purpose of the decision is to ensure business sustainability in that market According to State Farm, the decision to issue the non-renewal notices within the California home insurance market is to “ensure its long-term sustainability” there.  It called the choice “difficult but necessary”. The non-renewals will impact around 30,000 homeowners, rental homeowners, and other…

Read More

State Farm maintains stability regardless of record breaking 2011 storms

State Farm has announced that although they faced a significant number of payments for catastrophe claims from some of the largest events in the quarter century history of the company, it has been able to maintain its financial strength. In 2011, State Farm’s combined net worth fell by $0.4 billion by the end of the year, bringing it to $60.8 billion. This includes the drop by $0.2 billion in the insurance company’s net worth in connection with the unaffiliated stock portfolios of the property and casualty companies. Moreover, those figures…

Read More

Fascinating things you should know about renters’ insurance

Experts in the industry say that although moving day can be a very complex time and there are already a number of things that a renter has to remember, renters’ insurance should also be considered to be one of those vital elements on the moving day checklist. While some landlords require that their tenants have a policy, others leave it up to the individual renters. It helps to protect renters from damage, theft, or destruction of their valuable and personal items in the case of a break-in, fire, or other…

Read More