➡️ State Farm Leaving California - So what?
Yes, right as we enter the fire hazard season, the company announced it will no longer issue NEW home policies for Californians. What is this all about? Pure Profit Play.
This is all about wild fires in California. Those rural fires do a lot of damage and with warmer climates we are seeing them more frequently. We don’t see them in urban areas like LA, San Francisco or San Diego, but in the mountains surrounding these metro hubs.
They cannot exclude the rural areas and keep the profitable urban areas or they would be accused of discriminatory practices. So rather than leave the California entirely, they are saying they will not issue NEW policies.
They want the policy premiums from all of the different types of policies they offer, which obviously make them money, but they want to cut out the segment where they actually have to pay out rather than simply collect. What they are doing is cherry picking.
If State Farm doesn’t want to write new policies, other companies which want to grown their customer base will step up.
Don’t allow State Farm to Cherry Pick who and what they want to cover. Bundle all of your policies and give it to a company that will write home policies in California. Let your pockets do the talking. If enough of their profitable policies are taken away from them, they will come back.
What are your thoughts?
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