More Insurance Woes: State Farm Halts New Property Insurance Policies in California

To improve its financial strength and the increases in construction costs that outpaces inflation, growing catastrophe exposure and a challenging reinsurance market, State Farm General Insurance Company will not longer accept new applications for property insurance and other policies in California citing “historic” increases in construction costs and inflation.

State Farm agents in California will continue to serve existing customers.

For more information, see links below:

LOS ANGELES DAILY NEWS: “State Farm halts new property insurance policies in California”

WALL STREET JOURNAL: “State Farm Halts Home-Insurance Sales in California”