Another Insurance Company Cancels Coverage in California
Concerned about earthquake risk, Safeco Insurance is set to cancel coverage for around 1,000 homeowners in San Francisco and the East Bay region. The Seattle-based branch of Liberty Mutual Insurance plans to terminate over 950 policies when they come up for renewal in October. This move follows other insurance companies like State Farm, Allstate, and Farmers Insurance making adjustments in California due to the high risks of natural disasters, with Safeco’s decision particularly affecting areas with significant earthquake risk in the Bay Area.
