The LA wildfires may cost up to $57 billion in damages and losses, Accuweather said in an early estimate.Nick Ut/Getty ImagesThe Los Angeles wildfires could cause up to $57 billion in damage, Accuweather estimates.The fires are destroying expensive real estate in Santa Monica, Malibu, and other neighborhoods.Insurance providers like State Farm pulled new coverage before the fire due to catastrophe risks.The Los Angeles wildfires could cost between $52 billion and $57 billion in damages and economic losses, according to a preliminary estimate from weather forecasting service Accuweather.The wildfires tearing through Santa Monica and Malibu, among other areas, are destroying some of the country's most expensive real estate, where median home values exceed $2 million, Accuweather said in a release on Wednesday.
Comment on LA fires could hit $50 billion or more in damages. They're shaping up to be the most expensive in state history.
shubhangigoel@insider.com (Shubhangi Goel), Business Insider
Wed, 01/08/2025 - 9:53pm
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