The State Farm General Insurance Company will no longer accept new applications for property insurance and other policies in California, citing 'historic' increases in construction costs and inflation, the company said Friday.
BRAZIL - 2022/06/28: In this photo illustration, the State Farm logo is seen in the background of a silhouetted woman holding a mobile phone.
Beginning Saturday, the Illinois-based insurance group will cease to accept applications for business and personal lines property and casualty insurance. The move doesn't impact personal vehicle insurance. A spokesperson for the California Department of Insurance told Fox Business it is committed to protecting customers.
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