I lost my home in the Mountain Fire in November 2024. I participated in a post disaster UP meeting in Camarillo and recall a representative say that the insurance companies are required to pay up to 40% of dwelling A. Maybe this was a FAIR plan answer and not for normal coverage through a standard insurance provider? I have received the 30%, which ended up being maxed at 250K as required in our case. Is a 40% of Dwelling A a typical option or am I best to pursue the total limit and proceed with the itemized list ? Ultimately, I don’t want to go through the itemized list and would prefer an amicable settlement %
Andreas Tompros asked 2 weeks ago 1 Answers
Hi Andres, we are sorry for your loss. We can confirm that your carrier has provided the correct minimal contents advance to you, which would allow you to not itemize your loss. You may want to ask the carrier if they will extend an additional content advance to ‘settle’ your content claim. However, the carrier’s are only required to provide 30%, outlined as follows:
Insurance Code – INS 10103.7
CHAPTER 10. California Residential Property Insurance Disclosure [10101 – 10107] ( Chapter 10 added by Stats. 1992, Ch. 1089, Sec. 1. )
10103.7.
(a)…
(b) (1) In the event of a covered total loss of a primary dwelling under a residential property insurance policy resulting from a state of emergency, as defined in Section 8558 of the Government Code, if the residence was furnished at the time of the loss, the insurer shall offer a payment under the contents (personal property) coverage in an amount no less than 30 percent of the policy limit applicable to the covered dwelling structure, up to a maximum of two hundred fifty thousand dollars ($250,000), without requiring the insured to file an itemized claim
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