Tag: Smart Home technology

Liberty Mutual Drops a Bombshell on California Condo and Renters Insurance Market

Angela Linders
Liberty Mutual

Liberty Mutual to Exit California’s Condo and Renters Insurance Market by 2026 Liberty Mutual, the fourth-largest home insurance provider in California, has announced plans to discontinue offering new condo and rental insurance policies starting January 1, 2025. The company aims for a full exit from these markets by 2026. This decision follows a wave of insurance companies pulling back from California, citing increasing risks and market volatility. Liberty Mutual’s subsidiary, Safeco, will also cease providing these policies, leaving thousands of Californians searching for alternative insurance options. Insurance Company Background Over…

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State Farm home insurance and ADT partner up for loss prevention and detection

Nordstrom
Home insurance - ADT - Home Security

The insurer recently announced an investment of $1.2 billion into the security company. State Farm recently announced that it has invested $1.2 billion into the ADT Inc security company, for approximately 15 percent equity and a move to support new home insurance advancements. The partnership between the two companies allows the insurer to imagine new forms of coverage. By working with ADT security, State Farm will be looking into ways to innovate the home insurance experience. This could include new applications for Smart Home technology to be applied to property…

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