Insurers have been cutting coverage for thousands of homeowners across the neighborhoods most affected by this week's California wildfires.

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

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.