State Farm to Drop 72,000 Home Policies in California After Pausing Sales Last Year

State Farm is the largest insurer by market share in the state.

A State Farm Insurance office is seen in Springfield, Va., on Oct. 23, 2014. Saul Loeb/AFP via Getty Images

With the state facing what some are calling an insurance availability crisis, industry leader State Farm announced March 20 that it will not renew about 72,000 policies across California.

“State Farm General Insurance Company ... is working to ensure its long-term sustainability in California,” the company said in a press release announcing the plan. “In doing so, [the company] has had to make some difficult but necessary decisions that will impact a portion of our California policyholders.”