Starting this summer, State Farm is dropping 30,000 homeowners insurance policies across California.
is dropping 30,000 homeowners insurance policies in California starting this summer."With what's happened in our insurance market, these carriers are just not profitable in California,” said Matthew Clark with C3 Risk & Insurance Services.Many of his clients live in Rancho Santa Fe, where more than 50% of all State Farm policies are getting dropped.
Earlier this week, State Farm disclosed where they will discontinue coverage, citing inflation, regulatory costs and increasing risks from catastrophes. Of the 50 impacted zip codes in San Diego, ones located in Rancho Santa Fe top the list, followed by Jamul, Tierrasanta, Lakeside, El Cajon and Mission Valley.
Susman’s best advice for those impacted is to start looking for a new insurer right away and don't hesitate when you find an alternative plan, even though it's likely more than what you're used to paying.
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