Most of the hundreds of claims State Farm has incurred from catastrophic wildfires in New Mexico are high severity, according to a company spokesperson.
State Farm has received about 300 claims, the majority from homeowners, said Benjamin Palmer. He anticipates more claims, including auto claims, as impacted areas are reopened to residents.
About 1,400 structures were burned by the South Fork Fire, which was discovered on June 17, according to a post on the Village of Ruidoso website. The fire has claimed more than 15,000 acres around the village and on Mescalero Tribal and U.S. Forest Service land.
About 8,000 people were evacuated. On June 25, Ruidoso Mayor Lynn Crawford said emergency responders are clearing areas to allow access to insurance adjusters who are “ready on the ground to serve” policyholders.
He said some roads remained closed in the area, which is in the Sierra Blanca mountain range. The mayor also said landslides are a heightened risk.
A second event, the Salt Fire, started the same day and has destroyed nearly 8,000 acres, according to InciWeb.
More than 8,000 people were evacuated as the fires spread, officials said.
The five largest writers of homeowners multiperil in New Mexico in 2023, based on direct premiums written, were: State Farm Group, with a 19.46% market share; Farmers Insurance Group, 17.47%; USAA Group, 12.59%; Liberty Mutual Insurance Cos., 10.3%; and Allstate Insurance Group, 7.98%, according to BestLink.
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