As wildfires ravage Southern California, homeowners in Pacific Palisades find themselves grappling with an unbearable reality: their homes are burning, and their insurance policies—once their safety net—were canceled just months ago by State Farm.
In a move justified by the company as a strategy to avoid “financial failure,” State Farm canceled over 72,000 homeowners’ policies statewide, with Pacific Palisades—a now-charred affluent neighborhood—bearing a significant brunt.
James Woods, a renowned actor and Pacific Palisades resident, summed up the community’s frustration on social media.
“Actually, one of the major insurance companies canceled all the policies in our neighborhood about four months ago,” he wrote.
Another resident, watching her family home of 75 years succumb to flames, shared with ABC News.
“My parents are 90 years old. They lived in this house for 75 years and had the same insurance policy. Then State Farm decided to cancel it. They’re now left with nothing. Thank you, California insurance companies, for abandoning taxpaying residents who love this state. And they wonder why people are leaving California in droves.”