Due to climate change, and the increased number (and severity) of wildfires in California, some homeowners in Monterey county are finding it difficult to get (or keep) their homeowners insurance. That’s because some insurance companies are refusing to write more than a limited number of policies in high-risk fire areas. The California Department Of Insurance is encouraging insurance carriers to continue to offer homeowners insurance, even in the high-risk fire areas of the county such as Carmel Valley, Carmel Valley Village, Carmel Highlands, and Palo Colorado Canyon. Even if people can get (or keep) insurance coverage, the price for it may double or triple.
California is the most wildfire-prone state in the nation, with over 2 million households at high, or extreme, risk from wildfires. Last year, over 8,000 fires burned almost 2 million acres of California, racked up insurance losses over $12 billion, and killed 100 people.
