Did you? Forest fires have destroyed hundreds of homes in the American West this year. The insurance industry is once again ready to pay hundreds of millions of dollars to cover the losses, as it already has for homeowners who lost their homes during the fire season last year Waldo Canyon fire, the most destructive in Colorado history at the time, CJ Moore roared into summer environment then, he knew his house did not stand a chance. Moore house fire leveled and 345 others around it.
Shortly after one year, and the environment at the western edge of Colorado Springs is a flurry of reconstruction. Moore and most of the neighbors have good insurance and nearly all are being replaced. The insurance company paid to rebuild hundreds of homes in the area proved to be at high risk for forest fires. Even so, the premium to insure homes that will not change much.
But the fact is, for insurance companies, forest fires are not that big a deal compared to say, a tornado or hurricane. And even in a fire-prone Colorado, hail still responsible for insured losses more than the actual fire. A hail storm in the Denver area in July 2009 caused nearly $ 790.000.000.000 in insurance claims (about $ 820.000.000.000 in 2012 dollars) - about what the Waldo Canyon Fire costs double.
No matter how, catastrophic wildfires recently led the insurance company to get tougher. Companies are starting to ask the owner of the house in the woods to do more before they get policies issued or renewed.
But broadly, the calculation of risk that insurance companies make skewed by one main thing: local, state agencies and the federal response, fight and stopped almost every fire - and sparked thousands every year. Only a small percentage end up damaging property.
Take the June Great Black Forest Fire, also near Colorado Springs. More than 500 homes were destroyed, but a few thousand more saved.
With "others," Rasker means taxpayers. Last year alone, the U.S. Forest Service budgeted about $ 1 billion for forest fires. Most of the money that goes to battle a fire that threatened homes and cities.
Or rebuild them after the fire. Until the county or city should absorb some of the costs of the actual building in the woods, Rasker said, nothing will change. And the insurance industry will continue to write policies for people who want to live there....