California has some new laws strengthening rights of homeowners...

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Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://activerain.com/droplet/5hfh

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.

www.endrebarath.com

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.

 

www.endrebarath.com

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Rainmaker
3,125,731
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Endre - it's good to get this type of information out in front of people who might overlook it among the multitude of laws that are passed.

Feb 11, 2019 07:02 AM #1
Ambassador
3,008,688
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Okay, so I'm not about government involvement but....when it comes to insurance companies, this isn't such a bad intervention!

Another great PSA, Endre. What gives? Why are you reading up on all of the new laws? Is there something we don't know yet - pursuit of a political office?!!  

Feb 11, 2019 09:47 PM #2
Rainmaker
3,045,180
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael Jacobs  indeed many of these go under the radar because no one is watching the changes...Endre

Feb 11, 2019 10:02 PM #3
Rainmaker
3,045,180
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  very funny, I am like you against Government regulations, these are actually beneficial and I agree with them...there are so many poor people who were in no position to rebuild their homes if it was not for the Insurance they have been paying for who knows how long....now it is time to take care of them... and no Political Position in my future... I am too Black and White  no Gray areas... so I would not be a good candidate in Los Angeles and vicinity:))Endre

Feb 11, 2019 10:05 PM #4
Rainmaker
4,752,738
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Endre.  It appears that California is trying to protect its citizens from some questionable insurance practices.

Feb 13, 2019 05:15 AM #5
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Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
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