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State Farm cutting more than 70K policies in California

Thousands of California homeowners will be left without insurance after State Farm announced its plans to not renew policies. 

The insurer already stopped writing new California homeowners policies last year, and raised its rates. 

Now, it plans to cut around 30,000 property insurance policies, and 42,000 commercial apartment policies.

State Farm says the move will help it to ensure “long-term sustainability” in the state.

The changes are only happening in California, and impacted customers will start being informed in July.

At least seven of California’s largest property insurers have either limited, or completely paused, new home insurance applications.

NBC Bay Area’s Consumer Investigator Chris Chmura has full report in video player above.

Source: NBC Bay Area

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