Californians -- especially those living in areas vulnerable to wildfires -- are growing increasingly worried about State Farm's decision to stop selling new homeowners insurance policies in the state.
"It would be a nightmare because our property tax is already insanely high. So, if we had a policy like some of our neighbors and friends have had, it would be like having a third mortgage," said policyholder Michael Branson, describing the potential impact of losing his policy.
"We knew it would be a nightmare dealing with insurance and the county and that it would be years before we could rebuild," he said. "State Farm is trying to lead an insurance industry insurrection," said Harvey Rosenfield, an attorney and founder of the advocacy group Consumer Watchdog.
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