The ongoing LA fires have been nothing short of devastating to many. Thousands of homes and businesses have been destroyed in Southern California. Preliminary damage is estimated to cost insurers over $30 billion, making the fires one of the costliest natural disasters in U.S. history. And that’s only accounting for insured damages. Estimates for non-insured damages could balloon another $10 billion.[1]
Californians who have lost their homes and businesses have begun to file for claims. Still, with so much destruction, the claims process may be lengthy, with some adjusters estimating it could take years for claims to be totally resolved.[2] Instead, many have turned to GoFundMe to handle some of their losses. To date, more than $100 million has been generated on the crowdfunding website for people impacted by the Los Angeles wildfires.[3]
In this article, we’re looking at the history of GoFundMe being used after disasters and things to look out for that could impact other funds you might receive.