As Wildfire Risk Increases, Home Insurance Becomes More Difficult To Find

Wildfires in the west have always been a concern. The last few years, however, have brought with them such an increase in the frequency of severity of wildfires that the natural phenomenon has gone from a concern to a problem that must be addressed. While we can’t stop wildfires from happening completely, we can make sure that people who live in areas that are at risk of wildfire are properly insured. Unfortunately, that is becoming more difficult to do as well.

As the Denver Post reports, “The challenge is most acute in California, where catastrophic wildfires in 2018 caused more than $9 billion in losses to insured property, according to the state Department of Insurance.”.

Even California doesn’t yet have hard numbers on how many different homes have been denied insurance because of wildfire risk. Currently, insurers are not required to report that information. However, insurers have never been faced with such consistent and devastating wildfire seasons as they are now. Knowing that, it is not at all unreasonable to assume that those requirements could be changing in the near future.

Of course, it’s about more than just having an insurance option available to you. People who live in areas that are deemed to be prone to wildfires often are able to buy insurance, if they can pay for it. Since wildfire’s are such a high-risk if insurers opt to offer policies that cover those areas they are often at astronomical prices.

Not only are homes in fire-prone areas difficult to insure, they can also be very difficult to sell. This puts many homeowners in a very difficult situation. Since the wildfire season is only getting longer and more severe, an increasing number of people are becoming affected by this every year. Knowing that, a working solution must be reached. This is a problem that is not going away, and is only going to affect more people as time goes on.


As wildfire risk increases in Colorado and the West, home insurance grows harder to find

About Katie Rosario

Katie has been in the marketing industry for over 10 years and has a strong passion for writing great content. She has been writing for TGS Insurance for three years and strives to make every piece of content she works on informative and easy to read. In her spare time, she enjoys baking and spending time with her family.

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