Burned and uninsured: Wildfires are leaving California’s housing market in trouble
CNN
After the 2018 Camp Fire – the deadliest wildfire in California’s history – engulfed Michael and Kristy Daneau’s Paradise home, the couple and their four daughters were forced to move 30 miles away to find a home they could afford.
After the 2018 Camp Fire – the deadliest wildfire in California’s history – engulfed Michael and Kristy Daneau’s Paradise home, the couple and their four daughters were forced to move 30 miles away to find a home they could afford. They moved to Cohasset to buy a home with money they received through their insurance claim and their portion of an $11 billion Pacific Gas & Electric (PG&E) settlement with insurance companies for the blazes linked to its equipment failure. Six years later, the family’s experiencing déjà vu: Their new home in the rocky region of northern California recently burned down to the studs in the 2024 Park Fire, the fourth largest fire in the state’s history. But this time the Daneaus don’t have the safety net of insurance to help them rebuild their lives. When they moved to Cohasset, they were denied homeowners insurance from every company they contacted, citing wildfire concerns, and when they finally found an insurer that would offer them a plan, they couldn’t afford it. They were priced out – uninsured in a state prone to natural disasters. And now they are left with, essentially, nothing. The climate crisis, acutely felt in California, is driving a rapid increase in the intensity and frequency of wildfires and the number of homes lost in them. That’s made home insurance increasingly unaffordable or even inaccessible – and that’s leaving more people in the same position as the Daneaus.
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