Homeowners in northern Arizona are being dropped or not renewed by their insurance companies partly due to wildfire risk. It’s a growing trend we’re seeing across the country.
“It’s challenging. You know, I want safety for my family, safety for my home,” said a Prescott Valley homeowner who wanted to go by Paul.
Todd Sakowicz, who has a home in the Valley as well as in Groom Creek, tells ABC15 he’s had issues with companies before not wanting to renew his policy. A smaller insurance company he went through decided to not renew him over the summer, so he had to look for a new company. He tells ABC15 he’s been through this before.
“The reality is it's so expensive to rebuild a home these days because the cost, materials, labor, everything that you have to factor in when you're, you know, when a house is completely burnt down, you know, in these areas it costs so much more money to rebuild homes,” Chunglo explained. Chunglo said insurance companies use a program to take a look at fire risk, too. He said he feels for homeowners who are impacted, feeling as an insurance agent, their hands are also tied.
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