Burned and uninsured: Wildfires are leaving California's housing market in trouble

After the 2018 Camp Fire in California, Michael and Kristy Daneau had to move to Cohasset due to their Paradise home being destroyed. They used insurance money and part of an $11 billion settlement to buy a new home. However, their new home was recently burned down in the 2024 Park Fire, leaving them without insurance to rebuild. Many Californians are experiencing a similar situation as the climate crisis worsens wildfires and makes home insurance unaffordable or inaccessible. The California FAIR Plan, a last-resort insurer, has become the only option for many homeowners. Policymakers and insurers are working on making homes more wildfire resilient, but homeowners like the Daneaus remain uncertain about their future.