Homeowners in blue state face having no home insurance as State Farm issues grim warning

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Homeowners in blue state face having no home insurance as State Farm issues grim warning

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California's biggest insurer has issued a bleak update for homeowners and businesses amid a growing crisis in the state. State Farm says its fund used to cover claims in California will run dry by 2028 unless it can charge as much as 52 percent more to insure properties. That would mean the company would not be able to pay for repairs in the event of another wildfire in the state like those in recent years.
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