According to the U.S. Drought Monitor, nearly half of the state is facing moderate to severe drought — increasing the risk of wildfires across both rural and residential areas.
Add in the persistent threat of structure fires, and it’s clear: property damage risk in Florida goes far beyond hurricanes.
The Cost of Fire Damage in Florida
Wildfires and residential fires are both on the rise — and both can be devastating. According to the Florida Division of Emergency Management, wildfires cause significant destruction during dry seasons, often sparked by lightning or human activity. The U.S. Fire Administration reports that in 2023 alone, Florida saw millions of dollars in property losses from structure fires due to electrical faults, kitchen accidents, and arson.
From residential neighborhoods to commercial buildings, the financial impact of fire damage includes:
- The cost to repair or rebuild
- Business interruption and income loss
- Long-term economic and environmental consequences
How Valtrust Can Help
Valtrust offers insurable value appraisals across a broad geographic footprint. These USPAP-compliant valuations help property owners, investors, and institutions accurately assess the replacement cost of their buildings — not just the market value — ensuring their insurance coverage aligns with real-world exposure.
Whether you’re a property owner seeking risk mitigation or a lender requiring current appraisals, our team is here to help you protect what matters most — before disaster strikes.
📍Interested in seeing current drought conditions? Explore the live drought map here.
At Valtrust, we are dedicated to providing top-notch service in the commercial real estate market. We invite you to give us a call at 844-822-7825 and dial ext 1 to request a FREE quote.
