“With more than 20,000 structures and an estimated $15 billion to $19 billion lost between the Camp and Woolsey Fires alone, it’s clear as we move into 2019 that this risk must be actively managed.” What is that? Maybe let loggers come in and claim the trees before the fires do?
Homeowners didn’t have enough insurance? Or did they not have the right insurance? And why? Why didn’t they have “Guaranteed Replacement Cost” coverage ? Was it offered? If not, why not?
Dr. Jeffery needs to clarify that “Reconstruction cost” isn’t the cost to rebuild a home from the ground up (that’s the Replacement Cost), Reconstruction Cost is the cost to rebuild a structure after a significant loss has occurred. Now would the reconstruction cost be the same after a single location event as after a wildfire that destroys 18,000 other homes in the same area? How do insurance consumers address the potential spike in prices following a wildfire- type event? Must everyone be purchasing “doomsday” limits?
“With more than 20,000 structures and an estimated $15 billion to $19 billion lost between the Camp and Woolsey Fires alone, it’s clear as we move into 2019 that this risk must be actively managed.” What is that? Maybe let loggers come in and claim the trees before the fires do?
Homeowners didn’t have enough insurance? Or did they not have the right insurance? And why? Why didn’t they have “Guaranteed Replacement Cost” coverage ? Was it offered? If not, why not?
Dr. Jeffery needs to clarify that “Reconstruction cost” isn’t the cost to rebuild a home from the ground up (that’s the Replacement Cost), Reconstruction Cost is the cost to rebuild a structure after a significant loss has occurred. Now would the reconstruction cost be the same after a single location event as after a wildfire that destroys 18,000 other homes in the same area? How do insurance consumers address the potential spike in prices following a wildfire- type event? Must everyone be purchasing “doomsday” limits?
Major issue involving every home insurance consumer and their agents, and no comments?.