No New Landlord insurance Policies

[Adam Melendez]

I decided to shop around for an insurance policy on a property I have in California, since in recently changed from my PR to an investment property. When I called a local State Farm agent they informed me that State Farm is no longer issuing new Landlord Policies. When I requested a quote from Farmers, in the email they sent with the quote they stated "I would like to state that Landlord policies are a bit on a time sensitive matter as Farmers will not be writing LLPs effective April 15th."

I'm curious if anyone has insight as to why this seems to be happening and what this will mean for RE investors going forward.