How big an Insurance Payout Cost in CA for the Fires?

[william the wie]

Cars, houses, businesses and damage repair are obvious costs but what about insurance companies raising rates and/or leaving various lines of insurance? Then there are the rains that will reduce the fires to something manageable while setting off the mudslide season for more damaging of buildings, inventories, vehicles and killing people. My best guess is that 0.2-0.25 trillion in state GDP will be lost and make next year's fire season worse. The reason for worse is reduced tax base.

 

[Ray From Cleveland]

Insurance companies always get their money back. The unfortunate part is that it's at a cost to others who had no claims but live in the area.

I think that if you live around one of these potential fire hazards, your rates should be almost unaffordable. That's what they do in areas that are constantly being flooded or have some other disaster on a consistent basis even if it's every ten years or so.