California has enacted some new laws, related to Insurance Protection for homeowners. Their intent was to strengthen the rights of homeowners. In other words to protect them from unfair Insurance Practices, when it is related to Fires and other Natural Disasters.
As most of my readers are familiar, this past year we had way too many wildfires and other natural disasters in the Golden State. These were all very devastating events to the average home owner.
Certain Insurance companies have employed various tactics trying to avoid paying out on claims. Their intent was to minimize their Company's losses, not just for the present, but also for the future.
These tactics in turn generated eight new laws in the Golden State and their intent was/is to protect homeowners who have purchased insurance and to mitigate improper, or should I say unfair denial of payouts for the disasters that happened to them.
I will just mention some of them here. Senate Bill 824 Prohibits an insurer from canceling or refusing to renew a homeowner's insurance policy for one year from the date of a declaration of emergency. It required insurers to report specified fire risk information to the Department of Insurance.
Senate Bill 917 Requires Insurers to cover a loss resulting from a combination of disasters, such as landslide, mudslide, mudflow or debris flow. In other words if an insured disaster is the proximate cause of the loss or damage and would otherwise be covered.
Assembly Bill 1800 Prohibits Insurers in the event of a total loss of the residential property from limiting or denying payment based on the fact that the policy holder has chose to rebuild or purchase a home at a new location.
The other ones I will put in another blog post since it is a difficult subject and a bit dry. Never the less I find it is important for all home owners in California to be familiar with these new laws. Not just those who have been affected by the disasters, because one never knows when disaster can strike again in the Golden State.
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