Gladwyn d’Souza#PowerLineWildfire State Farm, California’s largest insurer, announced that it will discontinue coverage for 72,000 homes and apartments starting this summer, a move likely to sharply inflate housing costs for affected residents in a state that’s reeling from a series of destructive recent wildfires.
But Karl Susman, an independent broker and industry expert based in Los Angeles, said those who will be dropped are almost certainly properties in and around wildland areas considered at greater risk of wildfires, where standard coverage has become nearly impossible to get.
