Insured losses from the Woolsey Fire that burned through Malibu and the Hill Fire that began the same day in Ventura County were estimated Wednesday at more than $2 billion, the overwhelming majority of which is due to residential property damage, that state announced Wednesday.
According to Insurance Commissioner Dave Jones, the combined insured losses from the fires was $2.05 billion, with $1.95 billion of that amount from residential property losses. Commercial property damage from the two fires was estimated at $81.2 million, while other losses, such as vehicles, was estimated at more than $23.1 million.
Those losses paled in comparison to the estimated $7 billion in losses caused by the devastating Camp Fire in Northern California, bringing the total insured losses from the recent trio of fires to more than $9 billion.
“The devastating wildfires of 2018 were the deadliest and costliest wildfire catastrophes in California’s history,” Jones said. “The tragic deaths of 88 people and over $9 billion in insured losses to date are shocking numbers — behind the insured loss numbers are thousands of people who’ve been traumatized by unfathomable loss.”
According to the state, the estimates reflect the actual losses reported by insurance companies so far. The figures are expected to be updated as more losses are tallied in the coming months.
The 96,949-acre Woolsey Fire — which broke out Nov. 8 in Ventura County and quickly spread into Los Angeles County — killed three people, injured three firefighters, destroyed 1,643 structures and damaged 364 others. The blaze was 100 percent contained on Nov. 21.
The Hill Fire, which also began Nov. 8, burned 4,531 acres in Ventura County, destroying four structures and damaging two others before it was fully contained.
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