State Farm discontinuing 72,000 home policies in California in latest blow to state insurance market

FILE - Homes leveled by the Camp Fire line a development on Edgewood Lane in Paradise, Calif., on Nov. 12, 2018. State Farm will discontinue coverage for 72,000 houses and apartments in California starting summer 2024, the insurance giant said.

“State Farm General takes seriously our responsibility to maintain adequate claims-paying capacity for our customers and to comply with applicable financial solvency laws,” it continued. “It is necessary to take these actions now.”

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State Farm discontinuing 72,000 home insurance policies in California in latest blow to state marketInsurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer
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