Ventura County Star’s Post

The wildfire crisis has left many California homeowners facing insurance challenges they never expected. 💔 This article from the LA Times highlights the struggles people are facing when it comes to coverage gaps, skyrocketing premiums, and denied claims. At Kantor & Kantor, we are dedicated to helping individuals and families fight back when their claims are wrongfully denied. If you or someone you know is grappling with a denied insurance claim, whether it’s for a home, disability, life, or health policy, our team is here to help. 💪 💡 If your insurance company has let you down, we’re here to help you navigate the road to recovery. https://lnkd.in/ehdkyRNt #LAWildfires #HomeInsurance #InsuranceClaims #PalisadesFire #EatonFire #DeniedClaims #benefitclaims #ERISAAttorney #ERISAlawyer #badfaithlawyer #badfaithattorney #claimdenials #claimsdenied

California wildfires should have minimal impact to Florida home insurance rates according to national experts, but here's what you should know about your own home fire coverage... https://lnkd.in/e45AfR2e

Nationally, 12% of American homeowners have no home insurance, according to the Insurance Information Institute. For many who lost homes in Los Angeles fires, insurance won't cover entire cost of rebuilding Roberto Covarrubias and his family of six have lived in Altadena, California, for 10 years. Their American dream had four bedrooms, four bathrooms and 2,400 square feet. But disaster struck when the Eaton Fire swept through their neighborhood. Virtually everything the family owned has settled into heaps of ash. Now they're facing a second disaster — a financial one. "You're underinsured when it comes to the policy, there's clearly not going to be enough to make you whole again," said Alex Traslavina, a state-insured, independent insurance adjuster hired by fire victims to negotiate with insurance companies. Although Covarrubias' homeowners insurance policy covers more than $1 million in losses, it won't be enough. "Based off your numbers, it's anywhere between $500,000 to $1 million short," Traslavina said. Traslavina estimates that many of the residents who lost their homes in the Los Angeles-area fires are underinsured, meaning the total cost of rebuilding will outpace what their insurance policies can afford them. For some victims, the loss is both total and totally out of pocket. Nationally, 12% of American homeowners have no home insurance, according to the Insurance Information Institute. With premiums soaring, many of them dropped their coverage, rolled the dice and lost big in the disaster. "I don't think most Americans understand that they're underinsured," said Dr. Jeremy Porter, who studies property values after natural disasters for nonprofit First Street. "I think they see it as something they have to have." After Colorado's Marshall Fire in 2021, a roughly $2 billion disaster, an estimated three-fourths of victims discovered they were underinsured. "If your home is completely destroyed, it's very difficult for most insurance policies to cover the complete rebuild of a property. So there's a second layer of revictimization," Porter said. That's where Covarrubias finds himself. His savings now compete with a million dollars in uninsured losses. Still, he's determined to rebuild. "We're going to rebuild here. The property is worth it. The place is worth it. If Rome was burned, how many times did they rebuild? We'll rebuild Altadena," Covarrubias said. https://lnkd.in/gZjuzTWM

Insurance companies had been steering clear of California over the last few years, with this year being especially bad for not offering new policies or dropping cover. In one case Farmers Insurance reportedly increased a homeowners insurance from $4500 to $18,000, which as you can imagine meant they couldn't pay to get insured again. There home was destroyed! STATE FARM GENERAL INS CO reportedly declined to renew 30,000 policies but they weren't alone. Chubb and its subsidiaries stopped writing new policies for homes in 2021, Allstate stopped in 2022, and Tokio Marine America Insurance Company and TRANS PACIFIC INSURANCE COMPANY pulled out last year. This all comes just before the worst wildfires in LA history and potentially the most costly in their history too. A lot of properties had to go uninsured because of these changes and this means a lot of land of some of the destroyed houses and complexes could be sold off to developers, rather than the costly and time consuming process of buying them out. Shocking stuff really. More to come! #insurance #California #LAWildfires #Homeinsurance

Cats may be causing a stir in the home insurance industry, but it's not our beloved feline friends wreaking havoc. The real issue lies with smaller storms known as “secondary perils” or “kitty cats” in insurance jargon. Learn more in this insightful article from Gizmodo: https://lnkd.in/epzT7wYU In this tough market, options still exist. Reach out to USI for your Confidential Risk Assessment. #homeownersinsurance #toughmarket

As wildfires become a growing threat in California, many residents face an uncertain future regarding home insurance. Recent legislative efforts aim to provide relief and address the challenges posed by a strained insurance market in fire-prone areas. #losangeleswildfires2025 #insurancenews #insuranceindustry

State Farm offers homeowners in fire areas a chance to renew insurance policies. State Farm, the largest homeowners insurance company in California, jolted residents last year by announcing it would not renew 30,000 policies. That included about 8,100 homeowners in communities ravaged by the current wildfires, state officials said. But facing pressure after the wildfires caused catastrophic damage, the insurer said on Wednesday that it would offer affected homeowners the chance to renew policies that had been in place when the fires erupted last week. The move came after California’s insurance commissioner issued a one-year moratorium preventing insurance companies from canceling policies or issuing nonrenewal notices to homeowners living around the areas where wind-driven fires ignited last week. The cost and availability of home insurance after the fires is a looming worry for people across California and Western states battered by larger and more destructive wildfires. In Los Angeles, tens of thousands of people have started to file claims seeking payments for their homes, cars and businesses. Those losses in total could reach $35 billion or more, according to an analysis by the firm CoreLogic. Roughly 12,000 structures were damaged or destroyed in the fires that ravaged the areas around the Palisades and Eaton fires. State Farm said it had received 7,400 home and auto claims — a number that is likely to keep growing. The staggering cost of the fires could add new strains to California’s already struggling insurance industry. As people weigh whether to rebuild or move away, many are worried about whether their insurance premiums will skyrocket or whether they could lose coverage altogether. https://lnkd.in/gwhjMbDp

Can I Make A Claim For Water Damage To My Property? Yes, you can make a claim for water damage to your property. However, when making a claim for water damage, it’s crucial to ensure that the damage was unforeseen and unpreventable. There are many ways in which a property can be damaged by water, from both inside and outside. This article explores the different causes, how they can affect the property, including the type of damage they cause, and whether homeowners can claim for the damage under their home insurance policies. https://lnkd.in/eUhV7fDd

Homeowner’s insurance usually covers a wide range of home repairs, primarily those caused by accidents or unforeseen circumstances. The specific coverage varies according to the homeowner’s policy, and some repairs may not be covered under your plan. Check with your local, licensed insurance expert for specific coverage details. The following is a list of the most common home repairs typical homeowner’s insurance policies: 1 – Roof Repair and Replacement 2 – Storm Damage Repairs 3 – Smoke and Fire Damage Repairs 4 – Accidental Damage 5 – Damage Caused by Theft or Vandalism Read more at https://lnkd.in/e3vYx_RP

Have you noticed an increase in your insurance over the past couple years? Discover a few ways to offset higher homeowner insurance costs with these tips from HouseLogic. 💰🏠