A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in the past.

The devastation from the Los Angeles wildfires is worsening concerns about the already struggling insurance market in California.

Eventually, the multiple fires in Los Angeles County will be contained. But the damage has been done, and the current estimated cost of $250 billion is likely to rise. Many would expect that insurance would cover the losses.