California Wildfire Insurance Claims at $9 Billion

There are more than 28,000 claims for residential personal property

 

In this Dec. 3, 2018 file photo, a vehicle rests in front of a home leveled by the Camp Fire in Paradise, Calif. Authorities estimate it will cost at least $3 billion to clear debris of 19,000 homes destroyed by California wildfires last month. State and federal disaster relief officials said Tuesday, Dec. 11, 2018, that private contractors will most likely begin removing debris in January from Butte, Ventura and Los Angeles counties and costs are likely to surpass initial estimates. (AP Photo/Noah Berger, File)

 

By KATHLEEN RONAYNE, Associated Press

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SACRAMENTO, Calif. (AP) — Insurance claims from last month’s California wildfires already are at $9 billion and expected to increase, the state’s insurance commissioner announced Wednesday.

About $7 billion in claims are from the Camp Fire that destroyed the Northern California city of Paradise and killed at least 86 people, making it the deadliest U.S. wildfire in at least a century. The rest is from the Woolsey and Hill fires in Southern California.

Collectively, the fires destroyed or damaged more than 20,000 structures, with the vast majority in and around Paradise. On Tuesday, state and federal authorities estimated it will cost at least $3 billion just to clear debris.

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“As the claims get perfected, as individuals get access to their former homes and neighborhoods, as they dialogue with their insurance companies and share more information about the scope of their loss, we expect these numbers to rise,” Insurance Commissioner Dave Jones said of the $9 billion estimate.

There are more than 28,000 claims for residential personal property, nearly 2,000 from commercial property and 9,400 in auto and other claims for the fires.

That’s well above the number of claims filed following a series of fires that tore through Northern California’s wine country last year. Losses from those fires were initially pegged at $3.3 billion but eventually grew to $10 billion.

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While the Camp Fire destroyed about

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There are more than 28,000 claims for residential personal property     By KATHLEEN RONAYNE, Associated Press SACRAMENTO, Calif. (AP) — Insurance claims from last month’s California wildfires already are at $9 billion and expected to increase, the state’s insurance commissioner announced Wednesday. About $7 billion in claims are from the Camp Fire that destroyed […]

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