Allstate Is No Longer Offering New Policies in California

So, I read this interesting article the other day about Allstate, and apparently they’re no longer offering new policies in California. Crazy, right? Essentially, they decided to stop taking on new customers because they’re concerned about all the wildfires that have been happening in the state. It’s a bummer for anyone who was planning on getting insurance through them, but I guess it makes sense from a business standpoint.

From what I gathered, Allstate hasn’t actually pulled out of California altogether, they just aren’t accepting new policyholders. So if you’re already an Allstate customer, you’re good to go. But if you were hoping to switch to them or start a new policy, you’re out of luck. I can only imagine how frustrating that would be if you were in the process of buying a new home or something.

The article mentioned that Allstate isn’t the only insurance company to be wary of California’s wildfire risk. Apparently, a lot of insurance companies have been dropping customers in high-risk areas or raising their rates. It’s kind of scary to think about, especially since I live in an area that’s prone to wildfires. I’m definitely going to need to do some research on what my options are.

Overall, I thought the article was informative and timely. With climate change becoming an increasingly urgent issue, it’s important to be aware of how it’s affecting our daily lives. Plus, it’s always interesting to get a peek behind the curtain of how big companies make decisions.