Preliminary Data Shows State’s Fire Damage Claims Could Exceed $1B
The California Department of Insurance said today preliminary data suggest insurance claims from the wildfires in the state exceed more than $1 billion.
More than 7,000 structures have been damaged or destroyed in several counties and claims provided by eight California insurers processing claims for tens of thousands of policy holders reflect $1,045 billion in
loses to commercial and residential structures, personal and commercial vehicles and agricultural equipment.
“These numbers are just the beginning of the story as one of the deadliest and costliest wildfire catastrophes in California’s history,” Insurance Commissioner Dave Jones said.
Eight insurers who provided preliminary loss data included more than 3,000 vehicle, 39 boats, 83 commercial vehicles and 150 farm or agriculture equipment losses.
Also reported were 4,177 partial residential losses, 5,449 total residential losses, 35 renters/condo losses and 601 commercial property losses.
The Department of Insurance sent consumer services teams to every local assistance center to meet with consumers and help them begin the claims process and answer questions.
Jones also asked insurers to expedite claims, cut through red tape and help policyholders who may have lost documentation, which insurers normally require, the Department of Insurance said.
Jones also signed a declaration of an emergency that allows insurers to use claims adjusters from their out-of-state offices to boost the claims adjuster workforce and speed recovery and rebuilding.
Jones cautioned wildfire victims to check the licenses of contractors who solicit business with the Contractors State License Board using a smart device.