The 10 costliest wildfires

This year’s wildfires in Southern California were some of the most catastrophic in the state’s history. Burning for most of January, the fires destroyed over 18,000 structures across almost 58,000 acres.

While not the most destructive (that would be the 2018 wildfire season, in which over 24,000 structures were lost) nor the largest (the 2020 wildfires burned over 4 million acres), the 2025 Southern California wildfires were by far the costliest, with estimated insured losses ranging from $28 billion to $75 billion.

In total, global wildfires caused over $74 billion in insured losses between 2014 and 2023, according to the insurer Swiss Re, with another $106 billion in related economic losses.

With Los Angeles and the surrounding area still recovering, here’s a look at the 10 costliest wildfires in U.S. history ranked by insured losses as incurred at the time. Notably, of the 10 wildfires we listed the last time we published this list in 2012, only one remains. The rest occurred within the previous eight years, as climate change creates drier landscapes prone to fire risk.

The impact of this January’s Los Angeles wildfires will put pressure on insurers already reeling from the effects of many of the wildfires listed below, with the downstream effects hurting everyday homeowners even when they’re not direct victims of the wildfires.

“Climate change is fueling lengthier and more destructive fire seasons, making it increasingly difficult for homeowners in fire-prone areas to secure affordable insurance,” says Pat Howard, a New York City-based licensed property and casualty insurance expert. “Many insurers are excluding wildfire damage from homeowners policies or withdrawing from these regions entirely, leaving many to turn to [state sponsored insurance plans]. However, these policies often come with higher premiums and limited coverage.”

10. Carr Fire, California, July 23, 2018, to Aug. 30, 2018 – $1.5 billion

The Carr Fire, which started after the steel rim of a blown-out tire sparked dry vegetation along the road, burned almost 230,000 acres in Northern California. More than 1,000 homes were among the 1,604 structures that were razed, with the 143 MPH wind speeds creating a fire tornado that killed three people within 30 minutes.

9. The Oakland Tunnel Fire, California, Oct. 19, 1991, to Oct. 23, 1991 – $1.7 billion

Also known as the Oakland firestorm, the Tunnel fire began as a small brush fire that quickly grew and engulfed entire neighborhoods. Nearly 3,300 homes were destroyed and at least 25 people died as hot, dry Diablo winds carried burning embers across wide highways.

8. Thomas Fire, California, Dec. 4, 2017, to Jan. 12, 2018 – $2.2 billion

Named for Thomas Aquinas College, which was near the fire’s origin point, the Thomas Fire was the largest wildfire in California history up to that point. It was especially catastrophic to Ventura County’s agriculture industry, which lost around $171 million. The burning of natural vegetation – which normally absorbs rainfall – contributed to a series of devastating flash floods, debris flows, and mass erosion that killed at least 21 people.

7. Glass Fire, California, Sept. 27, 2020, to Oct. 20, 2020 – $2.95 billion

Wine Country suffered deep losses after the Glass Fire ripped through the Napa and Sonoma valleys, with multiple vineyards burning to the ground. Scientists predicted that the fire would alter the chemistry of wine, and local producers estimated that 8% of grapes would be wasted because they would’ve tasted like smoke if harvested.

6. Atlas Fire, California, Oct. 8, 2017, to Oct. 28, 2017 – $3 billion

The Atlas Fire was one of eight wildfires that raged through Northern California in October 2017. While not as destructive as other wildfires on this list, it nevertheless burned 51,624 acres, destroyed 783 structures, and killed at least six people. According to the San Francisco Chronicle, the fire was started when “trees crashed into conductors operated by Pacific Gas and Electric Co.”

5. Woolsey Fire, California, Nov. 8, 2018, to Nov. 21, 2018 – $4.2 billion

The Woolsey Fire was a disaster for film and TV history in Los Angeles, destroying classic production sets like Paramount Ranch and the 20th Century Fox Reagan Ranch. The fire also decimated an industrial research complex near Woolsey Canyon and 1,643 structures across 96,949 acres as it blazed through Malibu and the Santa Monica Mountains.

4. Lahaina wildfires, Hawaii, Aug. 8, 2023, to Sept. 3, 2023 – $5.5 billion

Four fires erupted on Hawaii in early August, but the one in Lahaina was the most catastrophic. Powerful winds, abetted by Hurricane Dora, caused embers to spread quickly and ignite thousands of homes in the area. Historic communities were engulfed and turned to ashes, and over 100 people died as they attempted to flee. The $5.5 billion estimate covers more than just insured losses (estimated closer to $3.2 billion) because significant numbers of Hawaiians did not have home insurance.

3. Tubbs Fire, California, Oct. 8, 2017, to Oct. 31, 2017 – $8.7 billion

Another simultaneous fire in the Northern California firestorm, the Tubbs Fire burned over 5,600 structures in Sonoma and Napa Counties. Many community buildings, like schools, hospitals, and shopping centers, were lost. Pacific Gas and Electric (PG&E) was due to face a civil trial for its alleged responsibility for the wildfire, but the company settled with victims for $13.5 billion before the trial began.

2. Camp Fire, California, Nov. 8, 2018, to Nov. 25, 2018 – $12.5 billion

The Camp Fire originated in Butte County and remains the most catastrophic wildfire in California history. It killed at least 85 people and destroyed 18,804 structures across 153,336 acres, for which PG&E pleaded guilty to 84 counts of involuntary manslaughter and paid a $3.5 million fine. The Camp Fire left drinking water contaminated with carcinogens and exposed residents to numerous other safety hazards. Over 1,000 people were still homeless six months after the destruction.

1. Palisades and Eaton Fires, California, Jan. 7, 2025, to Jan. 31, 2025 – $28 billion

The toll of January’s wildfires is still being calculated, with some economists estimating it could reach as high as $75 billion. The wildfires, which followed the driest nine-month period in California’s recorded history, were buoyed by 80 MPH winds and spread from 10 acres to 5,000 acres within less than 24 hours. Irreplaceable landmarks in Los Angeles history burned down along with at least 18,189 structures, with JP Morgan analysts estimating that the economic impact could run to nearly $50 billion.

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