State Farm office in Downtown Baltimore, MD. While these nonrenewals only account for around 2% of State Farm's business in California, policyholders in some ZIP codes will be more heavily affected than others. Photo: Diego M. Radzinschi/ALM

In March, State Farm General Insurance announced its intention to non-renew an estimated 72,000 policies – 30,000 property insurance and 42,000 commercial apartment policies – in California in order to ensure their long-term stability in the state. Homeowners policyholders who will be affected by the nonrenewals will start being informed on July 3, and commercial apartment policyholders will be notified beginning August 20.

This news comes after the insurer decided to stop accepting new applications for "all business and personal lines property and casualty insurance" with the exception of personal auto in May 2023; and after A.M. Best downgraded the insurer's financial rating from A to B last month.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].

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