Estimated read time: 2-3 minutes
OAKLEY, Summit County — Some Utah homeowners are reeling from steep increases in their home insurance premiums, with many blaming the financial aftereffects of the Yellow Lake Fire.
Along the Wasatch Back, new rates are hitting hard, with some residents seeing their premiums triple or more compared to last year.
For Oakley homeowner Josh McReavy, the impact has been staggering. His annual premium jumped from $2,500 to nearly $7,000 — an increase of $4,500. This significant hike comes despite the Yellow Lake Fire not directly impacting his home or property.
The Yellow Lake Fire, which started in September 2024, burned over 33,000 acres in Wasatch County. At its peak, nearly 900 firefighters and support teams battled the blaze, which forced evacuation orders and destroyed several structures.
While McReavy's property was never threatened, his home is now classified as being in a "fire zone," resulting in the dramatic insurance premium hike.
"So what other option do I have other than to pay it?" McReavy said, expressing his frustration. "To get to my house, you have about 60 acres of alfalfa fields to even get close to me. I'm not sure how a wildfire is going to get there."
Carole Walker, executive director of the Rocky Mountain Insurance Association, said these premium increases are part of a broader trend.
"It's a tough pill to swallow for everyone that sees their premium to go up," Walker explained. Natural catastrophes are at a generational high, and those costs will be absorbed by everyone. On top of that, the price of everything insurance would cover in an emergency is rising.
Walker said catastrophic fires in places like California serve as a reminder. She advised homeowners to review their coverage and take proactive steps to protect their properties.
