A Growing Crisis in the Mountain West
Homeowners in the Mountain West are facing a growing insurance crisis as wildfires and climate change continue to impact the region. In Idaho’s Garden Valley, residents like Sandy and Dave Nabbefeld have had their insurance canceled twice due to wildfire risks.
The couple, both in their 70s, built their retirement home in 2003 near the small town of Crouch. They’ve taken measures to protect their property from wildfires, including installing a metal roof and clearing flammable vegetation. Despite these efforts, they’ve received cancellation notices from their insurance providers due to the area’s wildfire risk.
Insurance Cancellations on the Rise
Boise County, where the Nabbefelds live, had the highest insurance cancellation rate in Idaho in 2023, with nearly 1 in 30 policies not renewed. This trend is not limited to Idaho; Colorado, Montana, New Mexico, and Wyoming have also seen significant increases in insurance cancellations.
Kip McBean, another Garden Valley resident, has seen his insurance premiums roughly double in recent years. He’s worried about losing his coverage altogether, like many in the area have experienced.
State Leaders Seeking Solutions
State officials are exploring ways to address the crisis. Colorado has established a state-backed insurance safety net, the Colorado FAIR Plan, for homeowners denied coverage by private insurers. Insurance Commissioner Michael Conway has proposed legislation to help stabilize the home insurance market.
Other states are also taking action. Montana has passed a bill allowing consumers to request information about their assigned wildfire risk score, while New Mexico has established a certification program for ‘wildfire-prepared’ properties.
Challenges Ahead
Despite these efforts, the crisis is expected to continue unless more comprehensive solutions are implemented. Homeowners like the Nabbefelds and Kip McBean remain concerned about their insurance coverage and the potential for future wildfires.
As Dave Nabbefeld said, ‘It’s scary because we don’t know what’s going to happen this fall.’ The situation highlights the need for continued action from state leaders to address the growing home insurance crisis in the Mountain West.
