The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.

Insurers are set to face a bill that could top $20 billion.

Insurance is going to be even harder to come by, and it is going to get incredibly more expensive than it already is. People need to be prepared for that,” said Mark Newman-Kuzel, president and owner of The Mark Newman-Kuzel Agency in Los Angeles,