My home was totally lost due to fire in Los Angeles, but not due to the wildfires. Rather than rebuild on the original location, I would like to apply the funds to rebuild on a lot I own at another location. Is the insurance company required to pay replacement cost coverage, assuming I am spending more than that amount on the new location, or are they only required to pay ACV since I’m building in a new location rather than buyer an existing built home?
P Miller asked 2 weeks ago 1 Answers
Hi, we would recommend that you review your policy in detail with your adjuster, as each policy and situation is different. And without knowing your actual situation, we cannot provide details on whether or not your policy will provide coverage to rebuild your property at a location other than the loss location.
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