State Farm, the largest homeowners insurance company in California, jolted residents last year by announcing it would not renew 30,000 policies. That included about 8,100 homeowners in communities ravaged by the current wildfires, state officials said.
State Farm, California's largest home insurer, said Thursday it will offer renewals to all of its 250,000 L.A. County residential policyholders slated to have been dropped, not just those in fire rava
The iconic actor who plays “Jake from State Farm” has been attacked online after the insurance agency canceled policies just before the California wildfires. The Daily Mail reports that the actor has been targeted after State Farm cancelled fire insurance policies just months before the deadly fires.
State Farm is canceling a planned commercial by the insurance giant set to run during the 2025 Super Bowl next month, citing the impact of the Los Angeles area wildfires .
Since the wildfires broke out in early January, State Farm’s claims department has fielded over 7,400 home and auto claims, State Farm said.
Following its announcement that it would pause non-renewals for policyholders to ensure coverage for Los Angeles County residents impacted by wildfires, State Farm on Thursday, Jan. 16, reported receiving 7,850 home and auto claims with numbers expected to rise as damages are assessed.
State Farm is giving some California homeowners an option to renew coverage that previously had been cancelled.
California's Fair Plan, the state's insurer of last resort, may be unable to pay billions in claims arising from the Los Angeles fires and may require a bailout that could ultimately be paid by homeowners statewide.
State Farm, long a stalwart of Super Bowl advertising, announced it was pulling an ad from next month's big game.
Although the cause of the fires is unknown, weather forecasters claim that high winds, severe drought conditions and low humidity have made the fires exceptionally destructive. D
Months before the Los Angeles wildfires sparked, State Farm’s California arm was already in trouble, it told state regulators. Its policyholder surplus — the cash it has on hand to pay out claims — had dropped from more than $4 billion in 2016 down to just $1.