Our CA Fair Plan policy states the following in the Dwelling Property Policy document we received from them, specifically under the Coverage D – Fair Rental Value section:
"Payment will be for the shortest time required to repair or replace that part of the Described Location rented, held for rental or occupied by you."
We had a total loss in the Eaton fire and this was our primary (only) residence.
Does this wording mean that the total amount of time they will provide us the fair rental value monthly $ amount is the sooner of when we complete/move back in after rebuild, or when we hit the maximum of that coverage amount, whichever is sooner?
We understand that there is a CA requirement for min of 36 months (that can be extended), but confirming our policy does not have a stated specific maximum number of months or years for them to pay out the fair rental value.