Comment on Investors are buying close to half the empty lots in LA burn zones, report says

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roofuskit@lemmy.world ⁨4⁩ ⁨days⁩ ago

Was their home insured at replacement cost or actual cash value? And if it was at replacement cost is there a coinsurance value that they were not keeping up with?

If insured at ACV or with a coinsurance that wasn’t maintained properly people could easily be getting less than the value of rebuilding.

If your insurance agent hasn’t explained these things to you upon insuring your home, get another insurance agent.

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