As wildfires increase in severity and frequency, thousands of homes in California have been destroyed and insurance companies' earnings have taken a hit. Now, two companies, State Farm and Allstate, have announced they will no longer offer new home insurance policies in the state. We speak to one homeowner and WSJ’s Jean Eaglesham about why the situation has escalated.
Further Reading:
- Home Insurers Curb New Policies in Risky Areas Nationally
- Allstate Stops Selling New Home-Insurance Policies in California, Citing Wildfire Risks
- State Farm Halts Home-Insurance Sales in California
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