EDITORIAL: The heartbreaking reason why many victims won’t rebuild
As Staff Writer
The result is many homeowners are coming to the conclusion -- or may soon -- that rebuilding is not an option. They will simply sell their land, use what insurance funds they have to pay off their mortgages, if they can, and walk away. As we have noted before, the consequences of losing so many teachers, business professionals, health care workers, friends, neighbors and even family members is unthinkable.
What's particularly discouraging is that this is not a new problem. Many of the victims of the
The problem is usually rooted in the initial agreement reached between the homeowners and the insurers. Homeowners often are primarily concerned with getting the largest amount of coverage at the lowest available price. And insurance companies are more than eager to sell such policies in order to keep their business. Unfortunately, the dirty secret is that homeowners are often left with policies that won't adequately cover their home and possessions in the event of a complete loss.
The problem is only compounded in the event of a natural disaster such as the fires in October, which wiped out some 5,300 homes in
The situation places all the more importance on a series of bills now working their way through the state Legislature that are focused on helping fire victims with their insurance challenges. Some we have discussed before, but two in particular deserve particular attention.
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The second is SB 1263 by state Sen.
These measures won't provide much help for
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