State Farm has pulled all of these levers to varying degrees already. In May 2023, the insurer announced it was issuing a blanket pause on writing new homeowners policies in California.

State Farm will no longer provide home insurance to new California customers because of wildfire risks and an increase in construction costs, the company said Friday. On Saturday, the insurance ...

State Farm, California’s largest home insurer by far, told Lara that even if it received the rate hike, it would not resume writing new policies in California. Lara intends to make a decision in ...

State Farm said the pending coverage cancellations account for just over 2% of its California policies, but did not say where they are and what criteria the company used to mark them for non-renewal.

State Farm gets California nod to hike homeowner policies 17% Policyholders will see higher premiums beginning June 1, with renters and condo owners paying 15% more, and rental owners paying 38% more.

State Farm is right. California can’t keep building housing in high-risk places Brenda Ortega salvages items from her flooded home in Merced during California’s catastrophic winter storms.

As a whole, the homeowners insurance market in California has risen from $8.2 billion in premiums in 2018 to more than $12 billion today, with State Farm’s share rising from a little under $1.5 ...

State Farm also pointed to rising construction costs as a reason for pulling out of California. When a home burns down or floods, the insurance company pays for the cost of rebuilding.

State Farm is looking to raise insurance rates for some California customers by more than 50% as the insurance giant weighs its future in the Golden State. In a filing to the California Department ...

Illinois-based insurance giant State Farm is expected to increase its average rate for homeowner insurance policies in California by 20 percent next year, under a proposal approved by the ...