Insurance Laws Hurting Colorado Wildfire Victims

August 31, 2012

  • August 31, 2012 at 1:32 pm
    Cheetoh Mulligan says:
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    If the homes are destroyed, shouldn’t the insurance companies be paying policy limits? What is the Colorado Law; that insurance companies can offer lower settlements to desparate people?

    • August 31, 2012 at 1:44 pm
      dwight says:
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      Normally, Insurance would pay Actual Cash Value(depreciation) until such time as the home is rebuilt. Same on Personal Property, until items are replaced. Colorado may be diffent!

      • August 31, 2012 at 1:56 pm
        Rich Seymour says:
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        You’re correct initial is ACV then RC on completion or replacement if a RC policy.

      • August 31, 2012 at 3:37 pm
        Granny says:
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        No, Colorado is not different. ACV until replaced or repaired

  • August 31, 2012 at 2:47 pm
    original bob says:
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    “easing the rules for policyholders” seems to imply that insured’s are having problems presenting proof of loss – and who wouldn’t if all their possessions were burnt up. Without more info I’m just guessing at the complaint but I’ve seen these claim problems before when a home is destroyed. Take pictures/movies of your home keep them in a safety deposit box along with receipts of items of higher value.



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