This is absurd. Just because all these people lost their homes around the same time doesn’t mean that they should be held to a different standard to those who loose theirs in smaller incidences such as a domestic fire or landslide.
I mean yes it’s sad but they shouldn’t get an easier time just because it’s good optics.
I don’t think this is a bad thing. Those people did not know a fire would wipe out their homes. So chances are they would not have over insured deliberately and therefore profit. And they paid for the coverage. Maybe a few may try to turn this to an advantage, but the carriers will save on adjusting costs. Plus it is a good gesture on the part of the insurance companies.
having watched people having to do this after the cedar fire, I think skipping the detailed inventory is a good thing. they are already stressed out from the loss of their home, cut them some relief by just paying the $ insured for.
While it is an understandable gesture of goodwill, insurance companies may be held to this standard in future instances of Nat Cat hazards under waiver & estoppel applied by crafty sharks, er, lawyers.
This makes sense. Close these claims quickly, and let people get back to their lives. It saves adjusting expense in the form of hours saved by adjusters following up and keeping these claims open. The standard limits for unscheduled personal property in the homeowners contract were put there because they are a proven average, i.e. Coverage C is 50% of Coverage A.
Thank you for this. I lost my home of 30 years in the Thomas Fire, evacuating with the clothes on my back. It is impossible to replace the 1920s oil paintings I inherited from Italy, the Italian alabaster statues, the treasured family photos including those taken in Italy in the 1930s. Most of my clothing and vintage 18k gold Italian jewelry are irreplaceable, and I do not have receipts for them as many were accumulated over 30 years. Anyone against this works for greedy insurance companies which will do anything to avoid paying claims. Thank goodness for Dave Jones, an honest Insurance Commissioner. Several insurance companies like Farmers have already complied. All honest insurance firms should comply!
Once the California DOI gets its way and takes insurance out of the private sector, this is how it will handle paying out claims. 1(800)PAYTHELIMITS
This is absurd. Just because all these people lost their homes around the same time doesn’t mean that they should be held to a different standard to those who loose theirs in smaller incidences such as a domestic fire or landslide.
I mean yes it’s sad but they shouldn’t get an easier time just because it’s good optics.
I don’t think this is a bad thing. Those people did not know a fire would wipe out their homes. So chances are they would not have over insured deliberately and therefore profit. And they paid for the coverage. Maybe a few may try to turn this to an advantage, but the carriers will save on adjusting costs. Plus it is a good gesture on the part of the insurance companies.
having watched people having to do this after the cedar fire, I think skipping the detailed inventory is a good thing. they are already stressed out from the loss of their home, cut them some relief by just paying the $ insured for.
While it is an understandable gesture of goodwill, insurance companies may be held to this standard in future instances of Nat Cat hazards under waiver & estoppel applied by crafty sharks, er, lawyers.
This makes sense. Close these claims quickly, and let people get back to their lives. It saves adjusting expense in the form of hours saved by adjusters following up and keeping these claims open. The standard limits for unscheduled personal property in the homeowners contract were put there because they are a proven average, i.e. Coverage C is 50% of Coverage A.
Thank you for this. I lost my home of 30 years in the Thomas Fire, evacuating with the clothes on my back. It is impossible to replace the 1920s oil paintings I inherited from Italy, the Italian alabaster statues, the treasured family photos including those taken in Italy in the 1930s. Most of my clothing and vintage 18k gold Italian jewelry are irreplaceable, and I do not have receipts for them as many were accumulated over 30 years. Anyone against this works for greedy insurance companies which will do anything to avoid paying claims. Thank goodness for Dave Jones, an honest Insurance Commissioner. Several insurance companies like Farmers have already complied. All honest insurance firms should comply!