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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Car crashes into west Medford liquor store ... BOLI finds evidence of retaliation by Gold Hill city manager ... Tribe calls lottery ad campaign 'hypocritical' ... Car crashes into west Medford liquor store ... BOLI finds evidence of retaliation by Gold Hill city manager ... Tribe calls lottery ad campaign 'hypocritical' ... OUR VIEW Our View: State should renew fire insurance policy Comment MailTribune.com Writer Posted Apr. 8, 2016 at 12:01 AM Posted Apr. 8, 2016 at 12:01 AM » Social News Nearly everyone who owns a house carries fire insurance. It's considered prudent to insure against a catastrophe that can destroy everything you own, and mortgage lenders require it to protect their interest. But the state of Oregon carries fire insurance, too — against the wildfires that have become almost routine in recent summers. Wildfires are so routine, in fact, that Oregon nearly lost its fire policy through Lloyd's of London after the state maxed out its coverage in 2013 and 2014. The only thing that saved the policy was that the 2015 season was bad enough to qualify for federal reimbursement for some of the most severe fires. This year, Lloyd's is offering the policy again. For a premium of $3.5 million and after paying a deductible of $50 million, the state would be eligible for up to $25 million from Lloyd's. Private timberland owners, who are eligible for the coverage as well, would help to pay the premium and the deductible. That sounds like a lot of money, and it is, but the $3.5 million premium is actually down $300,000 from last year because the state did not need to tap the policy in 2015 after the federal reimbursements. The Bulletin newspaper in Bend reports net state firefighting costs after reimbursements averaged $8 million in the 10 years prior to 2013, but then expenses exploded. In 2013, costs were $75 million, and $47.7 million in 2014. Climate change models from the Oregon Department of Forestry predict an increased chance of catastrophic fires in this part of the state and elsewhere in coming years. Some lawmakers are discussing the possibility of creating a permanent fund of up to $60 million to cover firefighting costs, essentially making the state self-insured. That's worth serious consideration. But for now, the state should take Lloyd's up on its offer and buy a policy for the 2016 fire season. MailTribune.com Writer Posted Apr. 8, 2016 at 12:01 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2016 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501