Insurance Company Exodus Continues in California
Kemper Corp. is the latest in a slew of insurance companies who have decided to stop offering homeowners policies in California, North Bay Business Journal reports.
The company announced last month that it would immediately be leaving the preferred home and auto insurance market, not only in California, but all the states it serves.
Kemper joins a long list of insurance companies that have decided to stop offering homeowners policies—or have pulled back on their amount of such customers—in the state of California. The others, according to the article, include:
- Allstate
- State Farm
- Farmers
- AIG
- AmGUARD Insurance
- Falls Lake Insurance
- Chubb Ltd.
According to North Bay Business Journal, the exodus has decreased home insurance providers in California by as much as 20%. Most of the companies have cited worsening wildfires as a reason for leaving.
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