Amid the ongoing Los Angeles wildfires, police confirmed they’ve taken a suspect into custody for “possible arson” near the Kenneth Fire in California’s Woodland Hills.

Out-of-control wildfires are ripping across parts of Los Angeles, leading to at least five deaths, burning down hundreds of buildings, and prompting more than 130,000 people to flee their homes in America's second-largest city.

As hundreds of Los Angeles residents return to find homes reduced to ashes due to a devastating wave of wildfires, many are fearful that their insurance policies may not cover the rebuild cost and that future premiums will be astronomical.