The Financial Impact Of Losing Everything In A Fire

Though they are some of the most serious issues we deal with after a fire, we also risk losing everything in our homes, including the memories we’ve made in a house and all of our personal possessions.

Picture The Scenario

Due to the trauma of the fire, you could end up becoming homeless. You and your spouse and children have nowhere to go at the time, which means that you have no options when it comes to going to work. As a result, you lose everything to you that has to do with finances, as well as have mounting medical bills and other costs due to complications arising from the fire.

Does this sound like a familiar scenario? With these devastating effects of fires bringing adverse effects to thousands of families, many find themselves struggling to get back on their feet after a fire.

An Entire Effect On A Community

Financial losses from wildfires don’t just have a huge financial strain on a single household. In many cases, such as with the Northern California wildfires, an entire community can be affected. One of the biggest concerns is the fact that many residents and firefighters in these local areas will be impacted physically, suffering from burns, inhalation of smoke, and many other injuries that stem from these terrible events. However, it also has many short and long-term impacts on recreational activity, closing natural areas that residents and tourists visit, which can lessen the finances of an entire community that keep it functioning and impact the entire state.

One of the worst impacts on an entire family is the unfortunate truth that people will be losing their homes, careers, and so much more. Long-term smoke exposure can have drastic effects on a family, increasing the incidence of respiratory conditions and hospital visits long after the fires have ended. Families lose what matters most to them, from their homes to jobs that they have held and secured for many years, which means longer periods of time to get back on their feet after devastation.

How To Rebuild

There are only so many steps that you can take after a fire has claimed your livelihood. After taking the time to recover emotionally, you may have moved forward with contacting your insurance to receive as much money as possible to gain momentum in a troubling time. You want to gather inventory of all the items you have lost as well as obtain values for everything, assess your damage with photographs, and file away all receipts related to your fire, such as plans for temporary lodging while you wait for a settlement.

Some are also pursuing legal consultation for the Northern California wildfires and related losses due to the fact that some suspect that the California utility, PG&E may be, in part responsible for some of the fires.