More and more Colorado homeowners across the state are being denied homeowners insurance because of wildfire risk
Now, the state insurance commissioner, state lawmakers, and homeowners are working together on a solution, as the insurance industry issues a warning.On her front porch, Kitty Stevenson likes to point out that the foundation of her Boulder County home sits on a burn scar.
"Because the Marshall Fire happened, and suddenly, nobody would do insurance up here," Stevenson said."Every single one of my neighbors is having an issue. Your house is worthless. You can't sell it. The stress is just unbelievable."Similar stories have sounded an alarm at the Colorado Division of Insurance, which has received dozens of calls and emails since last summer about insurance availability issues."There really are issues kind of throughout the state.
However, she said this would be the first state-run plan created in 40 years. And the stakes are high. The insurance industry also wants caps on coverage, so that states would not be on the hook for multi-million-dollar homes.
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