Now that Farmers® is seeing an improved commercial insurance market in California, it is resuming offering key business insurance

Effective 1 AugustFarmers resume accepting applications from new California customers for auto service and repair, residential, manufacturing, real estate and wholesale policies for business owners

WOODLAND HILLS, California., May 14, 2024 /PRNewswire/ — Farmers Insurance^® today announced that it will resume accepting new corporate commercial multi-peril applications for automotive service and repair, residential, manufacturing, real estate and wholesale distribution policies in Californiafrom August 1, 2024. This action follows the insurer group’s recent decision to lift the temporary moratorium on writing new commercial auto insurance policies in the state. July 1, 2024.

“As a leading insurer of small businesses, we are pleased to reopen these key lines of our commercial insurance offering to new customers in California and help give business owners more choices when searching for coverage options,” said Eric Colemanchairman of Business Insurance for Farmers^®. ‘Farmers have succeeded California for nearly a century, and while challenges remain, we are encouraged by the positive changes taking place in the state’s commercial insurance market.”

In recent months, Farmers has been working with the California Department of Insurance (CDI) on plans to re-enter the business insurance market following a temporary pause in offering coverage for a subset of new business insurance policies. Farmers remains a leading writer of small business insurance policies, offering coverage for craft contractors, a variety of retail, office, service and workers’ compensation insurance policies in Californiaall of which remained open to new business applications through temporary moratoriums.

“We have been consistent in our belief that a fundamental requirement for providing cover is that rates should reflect the risk exposure we insure. Fortunately, through constructive discussions with the CDI, we are now ready to take this step back into the market. Coleman added.

Small business owners are encouraged to contact local farm agency owners for more information about participation and rates. For more information about Farmers, please visit www.farmers.com.

About farmers’ insurance
“Farmer’s insurance^®” and “Farmers^®” are trade names for a group of insurers that offer insurance for cars, homes, small businesses and a wide range of other insurance and financial services products. For more information about Farmers Insurance, visit Farmers.com or follow Farmers on Twitter @WeAreFarmers, on Instagram @WeAreFarmers and Facebook.com/FarmersInsurance.

SOURCE Farmers Insurance