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Another major insurer is halting new policy sales in California

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Another major insurer is halting new policy sales in California
United States Latest News,United States Headlines

Allstate and others say thousands of natural disasters in recent years have made the state too expensive to cover.

at least 7,396 wildfires, which burned nearly 2.6 million acres of land, according to the California Department of Forestry and Fire Protection. The state had an additional 7,490 wildfires that burned 362,455 acres last year.

According to the California Department of Insurance , insurance companies that cover property may be required under California to cover living expenses such as emergency shelter and food, personal property and valuables, as well damage to the property and other buildings or structures on it; the removal of trees, shrubs and debris, and water damage not caused by a flood. Allstate said the state doesn't allow insurers to quickly adjust their rates to cover the increased costs for disasters.

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