When they bought their home in the Fountaingrove neighborhood four years ago, the couple said they were assured by a
"It's devastating," said Wall, who finished law school in the spring at
The couple's experience offers a stark example of the crucial role adequate home insurance plays in rebuilding after the historic Tubbs fire a year ago. And it highlights why most fire survivors in
To be sure, permitting delays, construction labor shortages and price increases for building materials all factor into rebuilding timelines. Insurance payouts, however, are pivotal in determining whether people have enough money to build a new home after a disaster. One year after the fierce wildfires, fewer than 50 homes of the more than 5,300 destroyed in the county have been fully rebuilt. Insurers' delays in paying homeowners' claims are the main reason for the slow rebuilding effort, officials said.
"We're still very much in the recovery process," said California Insurance Commissioner
"There continues to be issues and disputes between homeowners and (insurance) companies" over things like replacement-cost coverage, Jones said.
In fact, across the
Even more troubling is that 66 percent of survey respondents reported they will be underinsured on their homes, according to the survey, jeopardizing whether those victims will have enough money to rebuild or be forced to sell their lots and move.
"I consider it a crisis," said
___
(c)2018 The Press Democrat (Santa Rosa, Calif.)
Visit The Press Democrat (Santa Rosa, Calif.) at www.pressdemocrat.com
Distributed by Tribune Content Agency, LLC.
How To Compare Car Insurance Rates And Save Money – New Guide
Finding of safety violations in Camas fire response upheld
Advisor News
Annuity News
Health/Employee Benefits
Life Insurance