Historic wildfires in California estimated to cost $15-19B in losses

The Northern California Camp wildfire has left 88 dead and roughly 200 still missing as the state's deadliest and most destructive wildfire has finally reached 100% containment. New information from CoreLogic assesses residential and commercial loss estimates for both the Camp and Woolsey wildfires in California. According to this new data analysis, total losses from the Camp Fire are estimated to be between $11-13 billion. Total losses from the Woolsey Fire in Southern California are estimated to be an additional $4-6 billion, for a combined total of $15-19 billion. CoreLogic has broken down the numbers by residential and commercial properties. Each estimate accounts for building, content, and Additional Living Expenses (ALE), along with fire, smoke, demand surge and debris removal. Fire is covered under a standard homeowners' policy, so the majority of homeowners are likely to have some protection from the financial challenges surrounding recovery. For the Camp Fire, CoreLogic analysts estimate residential losses will reach $8-9 billion and price commercial losses at $3-4 billion. For the Woolsey Fire, residential losses are estimated at $3.5-5.5 billion, and commercial loss estimates are pinned at $500 million. For more information about CoreLogic's estimates and methodology, see their U.S. Wildfire Model. Related: The new reality of North America wildfire