The damage from the Los Angeles wildfires could reach a minimum of $250 billion.

The wildfires in Los Angeles have caused damage estimated between $250 and $275 billion, with significant costs for local, federal governments, insurers, and residents.

source: Google 

As of January 14, 24 people have died, over 12,300 structures have been destroyed, and more than 40,000 acres have burned in LA.

source: Google 

High winds expected this week are making it harder for firefighters to contain the ongoing blazes.

source: Google 

The total cost of the wildfires will not be clear until long after the fires are under control, and rebuilding efforts could take years.

source: Google 

The Federal Emergency Management Agency (FEMA) is offering immediate aid, including hazard mitigation, shelters, and debris removal, though aid could take months or years to reach local communities.

source: Google 

President Biden announced that the federal government will cover 100% of fire response costs and provide a $770 stimulus check to affected residents.

source: Google 

Congress has yet to agree on an aid package, and it remains unclear what disaster relief plans will be under President-elect Donald Trump’s administration.

source: Google 

FEMA provides short-term help, but it’s not designed to fully cover the long-term costs of rebuilding homes and businesses.

source: Google 

Many homeowners in LA are underinsured or lack coverage, as companies like State Farm and Farmers restrict policies in high-risk areas.

source: Google 

LA residents will face higher costs in areas like construction, rent, lumber, and other materials, as demand surges and supply chains are disrupted.

source: Google