What Was the Cost of the 2018 California Wildfires?

According to California Insurance Commissioner Ricardo Lara, insurance claims for the state’s November 2018 wildfires have reached $11.4 billion, making it the most expensive wildfire season in state history.

In a statement posted on the California Department of Insurance website, Lara reports that the $11.4 billion figure is a 25 percent increase from losses reported in December 2018.

“These are unprecedented numbers,” Lara said. Some 46,000 insurance claims related to the fires have been filed, with more than 13,000 of them reporting total losses to homes and businesses.

What are the Consequences of the 2018 California Wildfires?

Including uninsured losses, the 2018 Camp Fire caused approximately $16 billion in damage. It killed at least 85 people and destroyed nearly 19,000 buildings in the town of Paradise .

The Woolsey and Hill fires claimed the lives of three people and destroyed approximately 1,600 buildings and structures. The town of Paradise has lost 90 percent of its population as a result of the extensive damage wrought by the blazes.

Destruction from the fires has made it increasingly difficult and expensive for California residents to get homeowners insurance. The state’s Department of Insurance has begun collecting data on policy non-renewals in order to assess patterns and locations where coverage is likely to be dropped.

It’s also likely to become much more difficult, and expensive, to secure insurance as insurers may start denying coverage in certain areas where losses are likely to occur.

What Factors Contributed to the 2018 California Wildfires?

The combination of dry conditions and malfunctioning utilities equipment have been blamed for the 2018 California wildfires. Many  Golden State utility companies have old, failing and faulty equipment, which can result in sparks, something investigators and victim advocates say is what ignited the Camp Fire. It’s believed that sparks from faulty electrical equipment, combined with drought and dry vegetation, created an environment for fire to rapidly spread across the landscape.

If you suffered injuries, property damage, damage to vegetation, landscaping, or outbuildings, or loss of income due to the 2018 California wildfires, you may be eligible to hire an attorney and file a claim for compensation. Even if you have already received an insurance settlement, you may still be eligible to collect additional compensation for your losses.

This article is not legal advice. It is presented
for informational purposes only.