Before the Palisades Fire, many of those homeowners had lost insurance
About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.
Yes, State Farm ended insurance coverage for many in the Pacific Palisades in 2024
State Farm cited “catastrophe exposure” as one reason it wasn’t renewing policies for many Californians, including those in Los Angeles’ Pacific Palisades.
California overhauled its insurance system. Then Los Angeles caught fire.
The Palisades Fire could cause more than $10 billion in damages, further straining the state’s fragile insurance market.
California is in a home-insurance crisis. The Pacific Palisades fire will only make it worse
We need to make it incredibly expensive to build in these kinds of environments,’ one expert told The Independent. ‘If the insurance industry refuses to sell policies, maybe people won’t risk it’
Why the LA wildfires will worsen California's insurance crisis — even for fire-safe regions
Californians were already fighting to find affordable insurance policies.
How Los Angeles wildfires could affect California's home insurance market
State authorities previously listed the Palisades as one of the five Southern California areas with the highest concentration of potential wildfire risks. The community also is among the areas most impacted by an unavailability of insurance coverage.
How will LA's devastating fire losses affect insurance and home costs?
The current fires are on track to become one of the most costly disasters in California history. That could threaten the stability of California's insurance market and make housing costs go up even more.
Pacific Palisades fire may spell an end to cheap homeowners insurance in California
Insurance costs in one of the most expensive U.S. neighborhoods are relatively low Tight regulations keep prices down but discourage insurers Insurance costs more in New Orleans' Lower Ninth Ward Jan 9 - The Pacific Palisades area ravaged by wildfires in Los Angeles is one of the most expensive neighborhoods in the U.
State Farm canceled California homeowners’ insurance policies months before wildfires
State Farm canceled hundreds of homeowners’ insurance policies for residents in many of the same areas now in the path of the Southern California wildfires. The insurance company’s reasoning for canceling policies for people living in Pacific Palisades in Los Angeles County,
Victims of the Pacific Palisades fire face another harsh reality: No insurance to rebuild
Insurers have been cutting coverage for thousands of homeowners across the neighborhoods most affected by this week's ...
Insurance commissioner issues moratorium on home policy cancellations in fire zones
Insurance Commissioner Ricardo Lara has issued a one-year moratorium on home policy non-renewals and cancellations in the ...
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The Insurance Crisis That Will Follow the California Fires
In 2019, the number of homeowners’ policies in California that were not renewed jumped by more than thirty per cent. In 2023, ...
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Why did State Farm insurance cancel homeowners policies before LA wildfires? List of impacted areas explored
State Farm, one of California's largest insurance providers, revoked hundreds of homeowners' policies in California, specifically the Pacific Palisades.
California bars insurers from dropping fire victims until 2026. What to know
As the Palisades and Eaton fires wreak havoc on Los Angeles, the state insurance commissioner is taking action to protect ...