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How a ‘new normal’ is impacting homeowners’ insurance costs in wildfire-prone areas

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15min 11sec
Hart Van Denburg/CPR News
New homes are going up in the Sagamore neighborhood of Superior, in this photo taken Wednesday, December 28, 2022, almost a year to the day after the Marshall fire burned the entire neighborhood to the ground.

In the age of climate change, the idea of a “wildfire season” in Colorado is as antiquated as the horse and buggy. Still, this is the time of year when something as seemingly benign as an unexpected wind shift can spark panic in homeowners. And that’s not the only sense of dread for those living in vulnerable areas; there’s also the rising cost of insuring their residences – if they can find a policy at all.

Carole Walker is the executive director of the Rocky Mountain Insurance Information Association, an industry clearinghouse based in Greenwood Village south of Denver. She spoke about how new legislation, as well as community mitigation may be key in helping defray the expense of insuring homes.