Farmers Insurance Expands California Coverage with New Policies and Reopened Offerings

The insurer will increase new homeowner policies to 9,500 monthly and reintroduce coverage for condos, renters, and other lines starting December 14.

Farmers Insurance announced it will write 9,500 new homeowners insurance policies each month in California, up from the previous cap of 7,000.
Starting December 14, Farmers will resume offering condominium and renters insurance to new customers, with other paused coverage lines being phased in through March 2025.
The insurer's decision follows regulatory changes in California designed to stabilize the property insurance market and address wildfire-related risks.
California's insurance market has faced challenges, including billions in wildfire-related losses and major insurers halting new home insurance policies in the state.
Consumer advocates have expressed concerns that regulatory reforms could lead to higher premiums without ensuring sufficient coverage in high-risk areas.