Farmers Insurance says it will resume offering several types of insurance coverage to new customers in California, including condominium, renters, umbrella, landlord, vacant, and manufactured home insurance. Many of these coverage options had been paused for over a year.
The company plans to begin reintroducing these policies on December 14, 2024, starting with condominium and renters insurance. Farmers will also increase the number of homeowners policies it accepts from 7,000 to 9,500 per month.
This decision comes after regulatory changes in California, aimed at stabilizing the state’s insurance market amid challenges such as wildfire losses. Farmers said it is optimistic about the improvements in the market and hopes to offer more coverage options as the state’s Sustainable Insurance Strategy is implemented.
Farmers will reopen coverage options in phases, with the following dates:
- Condominium and Renters insurance: December 14, 2024
- Personal Umbrella insurance: December 24, 2024
- Manufactured Home Landlord insurance: March 1, 2025
- Dwelling Fire Landlord and Vacant insurance: March 15, 2025
Additionally, Farmers resumed accepting new applications for business insurance earlier this year and lifted its moratorium on new commercial automobile insurance policies in July.
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Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.