More than 2 million homes in California are considered in high or extreme fire risks, according to industry analysts, and with insurers responding by deeming certain areas and properties uninsurable—and increasing premium costs for others—some homeowners say they are left with few options.
Verisk Analytics, an organization providing risk assessment data based in New Jersey, reported in 2021 approximately 15 percent of housing units in the Golden State are categorized in the most dangerous tiers, with another 12 percent—more than 1.6 million homes—rated as a moderate risk (pdf).
Firefighters survey homes on Wakefield Avenue destroyed by the Mill fire in Weed, Calif., on Sept. 3, 2022. (Noah Berger/AP Photo)
Any classification other than “negligible and low” allows insurance companies to raise premiums, and in some instances, to cancel policies or refuse renewals, according to experts….