What is Insurance Doing For Los Angeles Wild Fire Victims?

Against the backdrop of resultant damages and heavy losses,  what is Insurance Doing For Los Angeles Wild Fire Victims?

The answer to this question may lie in the move of Insurance Commissioner, Ricardo Lara, which has rekindled the hope of victims.

Overcoming insurance clause could be challenging especially with a huge disaster like the Los Angeles wild fires, but Lara’s assertions in the aftermath shows sufferers with insurance contracts need not fear.

He has said: “Losing your insurance should be the last thing on someone’s mind after surviving a devastating fire”, and this is with reference to the Mandatory One Year Moratorium on Non-Renewals

Author of the Senate Bill 824 (2018), while serving as state senator, the policy requires a mandatory one-year moratorium on insurance companies canceling or non-renewing residential insurance policies in certain areas within or adjacent to a fire perimeter after a declared state of emergency is issued by the Governor.

“This law gives millions of Californians breathing room and hits the pause button on insurance non-renewals while people recover.”

READ ALSO: Los Angeles Fires: List Of Celebrities’ Homes Affected

READ ALSO: Which Insurance Policy Can Remedy These Massive Losses?

Following a declaration of a state of emergency, the Department of Insurance would now partner with CAL-FIRE and the Governor’s Office of Emergency Services to identify wildfire perimeters and adjacent ZIP codes within the mandatory moratorium areas.

This will help establish those who would be covered by policy.

The protection from cancellation or non-renewal lasts for one year from the date of the Governor’s emergency declaration.

“This one-year protection applies to all residential policyholders within the affected areas who suffer less than a total loss, including those who suffer no loss.

“Those who suffer a total loss have additional protections under the law”, the office says.

Find out if you are protected

The office notes that Commissioner Lara has implemented the new law following wildfires in 2019, 2020, and 2021.

Victims who live near one of the fires, have been asked to find the fire name in a list provided and follow other prompts.