Bloomington-based State Farm plans to non-renew 30,000 homeowners in California

Posted on March 20, 2024
State Farm’s headquarters are located in Bloomington. (Photo courtesy: State Farm/File)

By Blake Haas

BLOOMINGTON – To help with long-term stability, Bloomington-based State Farm plans to non-renew over 30,000 homeowners in California.

The Fortune 500 company, which named a new CEO last week, reports that the plan goes into effect July 3 of this year.

Additionally, State Farm plans to withdraw from offering commercial apartment policies with the non-renewal of approximately 42,000 policies.

In a news release, State Farm says the decision was made after analyzing State Farm General’s financial health, catastrophic exposure, reinsurance costs, and inflation.

“State Farm General takes seriously our responsibility to maintain adequate claims-paying capacity for our customers and to comply with applicable financial solvency laws. It is necessary to take these actions now,” said Sevag Sarkissian, a Media Specialist with State Farm.

The policies represent just over 2% of California’s State Farm General policy count.

Blake Haas can be reached at [email protected].

Blogs

Labor Day – Expanding voting rights for all

By Mike Matejka Because of COVID, there is no Labor Day Parade this year.  It’s always a great event for our everyday workers to march proudly down the street and enjoys the festive crowd. If there had been a parade, this year’s Labor Day theme was to be “150 years of struggle: your right to vote.” …

Is federal mobilization the answer?

By Mike Matejka As President Donald Trump threatens to send federal marshals into Chicago, over the objections of Illinois Governor J.B. Pritzker, recall another Illinois Governor who protested the incursion of armed federal personnel into the city.   Those federal troops, rather than calming, escalated the situation, leading to deaths and violence. Illinois poet Vachel Lindsay…

In these troubled times, to my fellow white Americans

By Mike Matejka Our nation is at a unique watershed in human relations. African-Americans have been killed too many times in the past before George Floyd, but the response to this man’s death is international and all-encompassing. I was a grade-schooler during the Civil Rights 1960s. I watched Birmingham demonstrators hosed and the Selma – Montgomery…

Workers’ Memorial Day – Remember those whose job took their life

Looking around our community, when we say employer, most will respond to State Farm, Country, or Illinois State University.   We too often forget those who are building our roads, serving our food, or our public employees. COVID-19 has made us more aware of the risk.  Going to work every day for some people means…