The Pacific Palisades area ravaged by wildfires is one of the most expensive neighborhoods, home to Hollywood A-Listers and multimillion dollar mansions. And ahead of this week's disaster, its insurance costs were among the most affordable in the country.

On Tuesday, flames tore through Palisades Charter High School, which reports show was previously used to offer shelter to people escaping Southern California wildfires like the 19

Californians who didn't find new homeowners coverage after being dropped by their insurers stand to lose everything from the fires.

The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is a deepening "insurance crisis.