Published: March 14, 2025
The recent Los Angeles wildfires, with estimated damages soaring as high as $275 billion, serve as a stark reminder: wildfires are no longer just a West Coast problem. They’re a nationwide threat, and they’re putting unprecedented pressure on homeowners insurance.
Losing your home to a fire is devastating. Finding temporary housing becomes a scramble, and the emotional toll is immense. As the linked article from IMPAAKT highlights the insurance industry is grappling with rising claims costs and shifting risk appetites. The rest of the country is starting to have California’s problems. And they’re not ready.
WOWS Insurance LLC is working to bring more insurance carriers back into California by spreading the risk and making policies fully transferable from home sellers to buyers, which is a big deal for realtors. This move is seen as a way to stabilize the market, offering homeowners peace of mind knowing their policy can be transferred and premiums are more predictable. They are also expanding beyond California to eight western states, highlighting those states like Nevada, Washington, Oregon, Utah and Colorado that all face similar wildfire risk.
Don’t wait until it’s too late. Protect your greatest asset by staying informed, taking proactive steps, and exploring innovative insurance solutions.
Read the full article on IMPAAKT: https://impaakt.co/will-wildfires-trigger-us-homeowners-insurance/
Learn more about WOWS Insurance Services: https://wowsinsurance.com/