Cost of Living
Homeowners Insurance Exodus
7 Insurers Fled. FAIR Plan Up 273%.
574K
FAIR Plan Policies
up from 154K
72K
State Farm
policies cancelled
$458B
Exposure Risk
FAIR Plan
7%
RE Deals Failed
can't get insurance
Seven major insurers have exited or restricted California's home insurance market. State Farm stopped ALL new applications (2023) and non-renewed 72,000 policies. Allstate approved a 34% rate hike. The FAIR Plan "insurer of last resort" exploded from 154,000 policies (2019) to 574,000 (2025)—a 273% increase. Its exposure grew from $50B to $458B. Some homeowners face 6x premium increases; 7% of real estate deals fell through because buyers couldn't get coverage.
Source: CA FAIR Plan & CA DOI