Insurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer.

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company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and outdated regulations as reasons it won’t renew the policies on 30,000 houses and 42,000 apartments, the Bay Area News Group reported Thursday.

      • agamemnonymous@sh.itjust.works
        0·
        8 months ago

        If you can afford a Californian mortgage, you can afford to leave the state and buy your house outright.

        But some people think they’re “too good” for that, while they complain about not being able to afford where they currently are.

        “These rich city slickers always insist on living in places with ‘demand for their skill sets’.” The sheer moral entitlement of implicitly declaring yourself arbiter of what “too good” is, and who thinks they’re it, and who’s allowed to complain about material corruption intrinsic to their cost of living.