Prayers to everyone impacted by the LA wildfires. With that said, this page is about finance and economics. So, here goes… Insurance prices likely move higher based on this disaster- just like they did for Hurricane Katrina. Most think it those higher insurance rates get absorbed by the local area to the disaster, but when the impact is huge, the cost is borne by all homeowners. Unfortunately this is adding insult to injury in a couple ways. We just had a significant natural disaster, Hurricane Heleen, that rocked Asheville and other cities- this would have already put upward pressure on insurance rates. Even before that, homeowners insurance was ON THE RISE. Sorry to be the bearer of bad news and all the prayers to those impacted in LA.
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