More Than 2.6 Million Homes Face the Risk of Wildfire Damage

Natural disasters, including wildfires, are becoming more intense, putting both homeowners and insurers at risk. According to a recent report from financial services company CoreLogic, 2.6 million homes across 14 states are at moderate to very high risk of wildfire damage, with a potential reconstruction cost of $1.3 trillion. The Los Angeles metro area has the highest number of homes at risk, with over 245,000 homes and a reconstruction value of $186.6 billion.

“In recent years, we’ve seen wildfires occur in unexpected places, reinforcing the need to understand the risk landscape and take mitigation action. Both insurers and consumers have a role to play to ensure adequate protection,” said Jon Schneyer, CoreLogic’s director of catastrophe response. “These numbers may seem overwhelming, but research shows that mitigation efforts make a real difference in potential losses from wildfires. The good news is there are actions people can take to lessen the risk.”

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