Wildfires are one of the most significant challenges facing homeowners and communities today. At MIB Agency LLC, we’re here to provide expert guidance and insurance solutions to help you stay protected.

The Growing Threat of Wildfires

As of October 2024, active wildfires have been reported in several states, including Idaho, Oregon, California, Wyoming, Washington, Arizona, and Montana, according to the National Interagency Fire Center. In California alone, CAL FIRE reported over 6,500 wildfires that burned more than a million acres by early October. Most recently, a significant wildfire near Los Angeles has further underscored the urgency of addressing these risks. The LA wildfires have already consumed thousands of acres, threatening homes and infrastructure in its path, and forcing evacuations in affected communities.

CoreLogic’s Wildfire Risk Report 2024 reveals that more than 2.6 million homes in the western U.S. face moderate or greater wildfire risk, with a total reconstruction cost of $1.2 trillion. California stands out as particularly vulnerable, with over 500,000 homes at very high risk, representing a reconstruction value of more than $300 billion.

The Insurance Landscape

The rising frequency and severity of wildfires have reshaped the insurance industry. Since 2022, seven of California’s top 12 insurance carriers have scaled back their coverage offerings, citing wildfire risks, increasing costs, and regulatory challenges that limit rate adjustments.

In response, California introduced the Sustainable Insurance Strategy in 2023. This initiative enables insurers to adopt scientifically based risk models that predict catastrophic events more effectively. Traditional methods relying on historical losses from the past two decades are no longer sufficient to address today’s challenges.

Protecting Homes and Communities

The devastation caused by the 2018 Camp Fire, which destroyed over 90% of Paradise, California, highlights the importance of wildfire mitigation efforts. According to CoreLogic’s Wildfire Risk Report 2024, if homeowners in Paradise had followed the Insurance Institute for Business & Home Safety’s Wildfire Prepared Home guidelines, expected wildfire losses could have been reduced by 53%.

Steps Home and Business Owners  Can Take:

• Create a Defensible Space: Maintain a five-foot buffer around your building free of flammable materials such as dry vegetation, mulch, or wood piles. This area acts as a barrier to slow the spread of fire toward your property.
• Strengthen Your Property: Use a Class A fire-rated roof to minimize the risk of ignition, install metal gutters to prevent fire debris buildup, and add ember-resistant vents to stop embers from entering your building.
• Regular Maintenance: Frequently clear tree debris, such as leaves and branches, from roofs, gutters, and around the building. Ensure landscaping materials are fire-resistant, and avoid planting shrubs or trees with low ignition points near structures.
• Smart Storage Practices: Store supplies like firewood, propane tanks, and other flammable materials at least 30 feet away from your business. This reduces the risk of these items acting as ignition sources.
• Emergency Planning: Develop and regularly update a wildfire preparedness plan for your business, including evacuation routes and communication strategies for employees and customers.

Partnering with MIB Agency LLC

At MIB Agency LLC, we prioritize keeping our clients informed about wildfire risks and insurance market changes. This includes updates on risk assessments, insurance availability, premium trends, and regulatory developments. We also guide clients through wildfire mitigation programs that can protect their property, potentially lower premiums, and help maintain coverage eligibility.

Moving Forward with Confidence

As wildfires continue to pose challenges, addressing insurance gaps is critical to protecting homeowners and communities. By implementing innovative strategies and proactive risk mitigation, we can reduce potential losses and enhance resilience. The ongoing LA Fire serves as a stark reminder of the importance of preparedness and the role of comprehensive insurance in protecting what matters most.

Contact MIB Agency LLC today to learn more about how we can help you safeguard your home and business against wildfire risks.