Insurers dropped fire coverage for thousands of homeowners in Palisades just months ago as experts fear devastation could cost $60bn

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Insurers dropped fire coverage for thousands of homeowners in Palisades just months ago as experts fear devastation could cost $60bn

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One of California's biggest insurance companies cancelled fire coverage for thousands of homeowners in the Pacific Palisades last summer in an attempt to avoid 'financial failure'. State Farm Insurance said in 2023 that it would stop accepting new homeowners-insurance applications in the Golden State. It then said last year that it would stop covering 72,000 homes across California. The move from State Farm Insurers came due to the growing frequency and severity of wildfires in the state.
Read More >> Full Article on Source: ALPHA MAG
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