State Farm, one of California’s largest insurance companies, announced Wednesday that it will provide insurance renewals to homeowners affected by last week’s wildfires in the Los Angeles area. Following the previous plan to discontinue coverage.
A statement posted on the insurance company’s website said: “We have suspended the notification process for non-renewals for homeowners in fire-affected areas. Received homeowner’s insurance with the option to renew for another term with State Farm.
As of Thursday morning, State Farm had received more than 7,800 home and auto insurance claims related to the fire, the insurance company said, adding that “this number will continue to grow as residents return and assess their damages.” “I guess so.”
The Los Angeles Times reports that State Farm’s decision to provide renewals will affect approximately 1,100 policies in place in the 90272 ZIP code in Pacific Palisades, as well as in other nearby areas and parts of Los Angeles County. reported that it will affect countless insurance policies.
The measure does not apply to insurance policies that had already expired before the January 7 fire.
The state insurance department indicated that more than 7,600 State Farm policyholders in the Palisades fire area are eligible for nonrenewal, along with 525 people in the Eaton fire area, the Los Angeles Times reported.
Fire officials estimate that up to 5,000 buildings were damaged or destroyed in the Palisades fire, and an additional 7,000 in the Eaton fire.
State Farm announced in March that it would not provide renewals to about 30,000 homeowners and terminate insurance policies for rental properties as California’s insurance market struggled.
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