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company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t renew the policies on 30,000 houses and 42,000 apartments, the Bay Area News Group reported Thursday.
Climate change will be doing a lot of that, like it our not.
But at the very least, the rest of us shouldn’t have to subsidize it. I’m tired of my insurance in the Great Lakes region skyrocketing because of disasters in CA or the gulf coast.