State Farm will discontinue coverage for 72,000 houses and apartments in California starting this summer, the insurance giant said this week, nine months after announcing it would not issue new home policies in the state
The Illinois-based company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t renew the policies on 30,000 houses and 42,000 apartments, the Bay Area News Group reported Thursday.
Infill development in the middle of a city can be just as disaster prone and those in a forest or on the ocean.
Uh huh. Because middle of SF is the same fire risk as paradise, CA
I never said it was exactly the same. And San Francisco has its own risks besides fire. And heck, I’d call Paradise a city, too.
If selling insurance to California was a good business, they wouldn’t leave the market.