More than 1.2 million residential properties in 13 states across the western U.S. are at high or very high risk for wildfire damage, putting the total at-risk property value at an estimated $189 billion, according to a report by CoreLogic.
Residential property information and analytics provider CoreLogic released its 2013 CoreLogic Wildfire Hazard Risk Report, which outlines statistics of residential property risk at different geographic levels.
The report explores findings including states and other geographic locations where homes are at “very high risk,” with Los Angeles being the city with the most residential properties at risk.
It also highlights the importance and influence of the Wildland Urban Interface in the analysis of wildfire risk. The growing population of this area has led to exposure of higher wildfire-risk zones.
“Just because your home is located within a city boundary does not necessarily mean you are safe from wildfire destruction if there is wildland vegetation nearby,” said CoreLogic's senior hazard scientist Dr. Thomas Jeffery.
The report was designed to provide the insurance industry, as well as financial services companies, homeowners and other parties impacted by wildfires with a more comprehensive understanding of wildfire risk.
“Recent trends have proven that risk of wildfire damage is a real and immediate threat to many homeowners in the western U.S.,” Jeffery said. “Awareness of that risk, as it relates to homes and businesses is crucially important to minimizing or preventing massive property damage.”
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