ADSince 2022, major insurance companies have either stopped writing new policies, pulled back coverage, or dropped residents altogether. Last March, State Farm, the state's largest home insurance provider, dropped 72,000 property policies in the state, including 69% of policies in Pacific Palisades. This week's fires will only worsen the situation, insurance and real estate experts told Business Insider. AD"It's like we took two steps forward, then we just took five back," California insurance agency owner Nick Ramirez told BI. Insurance will continue to get more expensive for the whole regionFirefighters outside a home in the Pacific Palisades in Los Angeles.

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Persons: Nick Ramirez, Ramirez, Hurst, Genaro Molina, it's, " Ramirez, Darren Nix, Nix, Kevin Herzberg, Herzberg Organizations: Allstate, LA Times, Insurance, Firefighters, Los Angeles Times, Getty, Insurance Company, realtors, Newsweek Locations: California, Pacific Palisades, Los Angeles County , California, Los Angeles County, Altadena, Los Angeles