Date: May 28, 2023Author: Nwo Report
Posted BY: RM | NwoReport
State Farm will no longer accept new applications in California for property insurance due to wildfires, inflation, and historical construction costs.
Wildfires = Poor forest management thanks to Democrat policies.
Inflation = Thanks to trillions in spending by Joe Biden and the Democrats in Congress.
The new policy will not impact vehicles.
Existing California customers will still be serviced.
“State Farm General Insurance Company, State Farm’s provider of homeowners insurance in California, will cease accepting new applications including all business and personal lines property and casualty insurance, effective May 27, 2023. This decision does not impact personal auto insurance. State Farm General Insurance Company made this decision due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.” the company said in a press release.
The insurance giant said it had stopped insuring California properties for financial reasons.
THANKS TO: https://nworeport.me/state-farm-will-no-longer-accept-new-applications-for-california-property-insurance-due-to-wildfires-inflation-historic-construction-costs/