Allstate and State Farm Insurance companies announced recently they’ll no longer offer new coverage plans in California, caused by the increasing frequency of natural disasters, rising construction costs and inflation. Now Farmers Insurance has stopped insuring property in Florida due to concerns over increasing risk from severe weather, making it the fourth insurance giant to quit the Florida market over the past year. Seventeen percent of Louisiana residents say insurance companies canceled their homeowner’s policies last year. And a majority of residents polled say insurance rates are rising and are higher than in other states. Who is next?
www.commondreams.org/news/farmers-insurance-florida
www.wwltv.com/article/money/survey-louisiana-residents-lost-home-insurance/289-68638767-a179-4a66-8045-b7ddf34a4100#:~:text=%E2%80%94%20Seventeen%20percent%20of%20Louisiana%20residents,higher%20than%20in%20other%20states.