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It’s not just homeowners insurance facing challenges.
Car insurance companies are also scaling back. For instance, Connect by AMFam, which partners with Costco, has stopped issuing new policies in California, as has Metromile.
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Farmer’s refused to insure my Texas house, citing its elevated wood structure in the woods and claiming I paid too much per square foot. They didn’t take into account that I bought six acres spread across three lots. State Farm, however, sent someone out to assess the property and even asked if I wanted to insure my trees. It highlights the benefit of working with a local agent familiar with the area, rather than just a broker.
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I switched from Geico to State Farm for the same reason. It’s nice having an agent who lives in the same neighborhood. We made the switch just before policies were stopped in California; what a relief.