![]() ![]() While the 2022 fire season was surprisingly quiet with just 362,455 acres burned and 876 structures damaged or destroyed, the Golden State really just “got lucky,” according to Lenya Quinn-Davidson, a fire advisor for the University of California Cooperative Extension. Why are big insurance companies not giving coverage to new customers in California?īoth insurers cited catastrophes, Allstate specifically mentioned wildfires, as part of what is driving up costs from claims. However, it does not impact personal auto insurance. Last week, State Farm, the largest insurer in the state, made a similar move for the same reasons: “due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.” State Farm’s decision applies to all business and personal lines property and casualty insurance. The fourth largest insurer in the Golden State took the decision so that it “can continue to protect current customers.” The company cited increased costs from wildfires, repairing homes and elevated reinsurance premiums for the decision. ![]() While Allstate informed the California Department of Insurance last year the news wasn’t widely known until reported on by the San Francisco Chronicle. ![]() Also, don't forget to mention Hubbiz to State Farm Insurance.Two major insurance companies, Allstate and State Farm, have announced that they will stop selling property and casualty coverage to new customers in California. After you do business with State Farm Insurance, please leave a review to help other people and improve hubbiz. Įstablished in 1993, State Farm Insurance is located at 112 N Rubey Dr Unit 110 in Golden, CO - Jefferson County and is a business listed in the categories Insurance Farm, Insurance, Insurance Automobile, Farm Insurance, Automobile Insurance, Insurance Companies, By Name, Auto Insurance and Professional Services and offers Home, Life, Personal Service and Great Discounts and Auto. Bank, Call Your Local Agent Today for A Free Quote, Renters Insurance, Disability Insurance, Insurance, Life Insurance. ![]()
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