State Farm is not renewing any apartment policies in California

[Jeff G.]

My agent just informed me that State Farm is not renewing any apartment policies in California ( https://newsroom.statefarm.com/update-on-california/ ).  Does anyone have any recommendations for insurers for a ~60 year old 8-unit apartment in the Sacramento area?

[Owen Rosen]

Quote from @Angela Yan:

@Jeff G. Statefarm is in a lot of trouble right now and got down graded to B rating so I would start looking. I have them too.

I have no water to carry for State Farm (at all) but I'm a fan of accuracy so I wanted to point out that State Farm as a corporation has not been downgraded.  It's their California property insurance subsidiary that has been.  State Farm Mutual is very highly rated from a financial perspective.

It's certainly true that they're a mess in California and obviously they're non-renewing apartments and many other properties.

I'm an Independent Agent and have no affiliation with State Farm but I find a lot of confusing info on the board hence the clarification.