Northern California fires cost $1B in insurance losses

Two wildfires that scorched nearly 150,000 acres in Northern California last fall were estimated to cost $1 billion in insurance losses.

The California Department of Insurance reported the steep price tag of the Valley and Butte fires in a statement on Monday.

The agency says that the Valley Fire is the third most destructive wildfire in state history based on total structures burned — destroying nearly 2,000 structures in Lake, Napa and Sonoma counties and costing about $700 million in insurance losses.

The Butte Fire, on the other hand, is the seventh most damaging fire with a little more than 800 structures destroyed in Amador and Calaveras counties and approximately $300 million in insurance losses.

The $1 billion cost doesn’t include damages to community infrastructures and utilities.

via SCPR.org

Northern California fires cost $1B in insurance losses

Leave a Reply

Your email address will not be published. Required fields are marked *