In case you forgot from all this rain, we’re still a high risk fire state. And the cost of fighting wildfires is now at a record high. On Thursday, California politicians proposed a plan to tackle ballooning fire costs: taking out insurance.
The proposed legislation by State Senator Bill Dodd works just like a home insurance plan - California pays a premium, and then gets paid out when disaster strikes.
California Insurance Commissioner Ricardo Lara, who’s also backing the bill, says the state’s overspent its fire cost projections for seven out of the last ten years. California spent $947 million last year on fires - way more than the budgeted $450 million.