Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.
In California’s wildfire country, insurance is harder to come by
Share Now on:
As wildfires have become more frequent and more devastating, some Californians are having a harder time finding homeowners insurance — or paying more for it. According to the California Department of Insurance, areas affected by wildfires in 2015 and 2017 saw a 10% increase in policies dropped by insurers last year. That doesn’t include the impact from last year’s Camp fire, which destroyed the town of Paradise.
“We think as bad as these numbers are, they’re only going to get worse in 2019,” said Michael Soller, the department’s deputy commissioner for communications. Homeowners who can’t find traditional insurance often end up paying more for less coverage.
Click the audio player above to hear the full story.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.