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A McDonald's Corp. fast food outlet burned by wildfires stands in Santa Rosa, California, on Thursday, Oct. 12, 2017. About 1,500 commercial, residential and industrial structures were burned in Northern California. (Photo: David Paul Morris/Bloomberg)

Due to damage caused by wildfires, mudslides and other natural disasters, property insurance rates are likely to go up this year. 

Tim Gosselin, vice president at Lee & Associates, and Daniel Olson, a broker with Wateridge Insurance Services, recently filmed a video explaining how property insurance rates will be affected by recent natural disasters and what owners should know about this issue.

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