Loading ...State Farm cancels 72,000 policies in California. Major California property insurer decides to not renew tens of thousands of policies
About 30,000 of the affected policies will be for homeowner, rental, residential community association and business owner insurance. The other approximately 42,000 will be for commercial apartment policies.
On Wednesday, State Farm said it will begin taking action in July on the homeowners policies and in August for the commercial ones and that it would occur on a rolling basis over the next year. It also said it would notify people affected by the decision before their coverage expires.
https://www.yahoo.com/news/major-california-property-insurer-decides-180609026.html
No insurance. No mortgage. No buyers. No bid.
House = worthless, except to squatters. Perhaps that is the plan?
Interesting — that was also my thought — combined with the NUMEROUS public articles on how squatters can take over homes with no repercussions. I guess break and enter or theft are no longer viable crime categories……..