California Wildfire Damages May Reach Billions of Dollars
The human costs of the recent Northern California wildfires were staggering, with 43 people losing their lives. Approximately 6,000 acres were burned and more than 8,400 structures destroyed. As a result, the dollar amount of damages could be in the billions.
According to Gerald Singleton with the Singleton Law Firm, the total damages could be between $10-$12 billion. Singleton’s firm, along with Baron & Budd, Dixon Diab & Chambers LLP, and Thorsnes Bartolotta McGuire, is representing people who suffered losses in the tragedy.
There are reports that equipment owned and maintained by Pacific Gas & Electric (PG&E) may have played a role in causing the disaster. Indications are that equipment such as power lines and transformers may have ignited dry vegetation. However, investigators have not yet determined the cause of the fires.
According to Singleton, PG&E carries only $800 million in insurance coverage. If the damages total $10-12 billion, he said, there may be arrangements made so that PG&E can pay them out over time – if, in fact, it is determined that the company played a role in the fires. As a result, it will likely take longer for people to obtain compensation for the losses they suffered.
Please get in touch with the California Fire Lawyers if you suffered property losses, lost possessions, or suffered other damages due to the Northern California wildfires. We will work passionately on your behalf in order to help you obtain fair compensation for the damages you have incurred. Please contact us online or give us a call at 707-533-8128 if you would like more information on how we may be able to help.