"When neighbors in Summit County pooled a half-million dollars to clear dead pines and carve out a massive fire break... they thought they'd done everything right."
"Across Colorado's mountain towns, homeowners are pouring time, sweat, and money into wildfire mitigation only to watch their premiums climb anyway."
"A new law, House Bill 1182, will soon require insurance companies to factor verified wildfire mitigation into how they set risk and rates."
"It's a long-awaited win for homeowners demanding credit for their efforts, but whether it's enough to slow the state's runaway insurance costs remains to be seen."
In Summit County, Colorado, residents invested $500,000 in wildfire mitigation through tree clearing and fire breaks but still faced rising insurance premiums. This reflects a broader state trend where, despite homeowners' efforts to mitigate wildfire risks, insurance costs have soared over 52% from 2019 to 2022, with some areas experiencing hikes of over 1,000%. Acknowledging the discontent, Colorado lawmakers introduced House Bill 1182, which mandates insurers to consider verified mitigation efforts when determining rates. This move is seen as a potential shift in the insurance landscape, though its effectiveness remains uncertain.
Read at SFGATE
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