About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.

Perhaps the most interesting part of the article:

  • ColeSloth
    36·
    2 days ago

    Especially for the palisades $3,500,000 homes.

    At $50,000 a year it would take 70 years of payments.

    • Cethin@lemmy.zipEnglish
      5·
      1 day ago

      Well, it should be proportional to the value they’re covering * the risk of loss, so they’re probably paying much more than $50000/year.