LA Fires
Feb. 20, 2025
The Law of Rebuilding LA Episode 2: Home insurance timelines and the battle for fair replacement costs
In this episode, learn why insurance companies' seemingly generous upfront payments might actually work against homeowners, and discover the hidden timelines that could make or break your rebuild.
Welcome to Episode 2 of "The Law of Rebuilding LA," where the Daily Journal continues its exploration of legal issues affecting LA's fire recovery efforts. In this episode, Daily Journal Contributing Editor Howard Miller continues his conversation with Michael Bidart of Shernoff Bidart Echeverria LLP, diving deep into the claims adjustment process and timeline requirements.
The discussion illuminates the complex process of establishing replacement costs and reveals important timing considerations that affect both policyholders and the broader LA community's rebuilding efforts.
Listen as Miller and Bidart explore:
- Why emergency declarations extend claim deadlines from 12 to 36 months - and how this affects rebuilding timelines
- The formula for calculating actual cash value and why the depreciation thresholds matters
- How insurance companies' seemingly generous upfront payments might actually disadvantage policyholders
- Practical strategies for policyholders navigating payment negotiations
- A new pro bono mediation program that could help resolve insurance disputes more quickly
Stay tuned for Episode 3, which will be published Friday.
Missed an episode of The Law of Rebuilding LA? Catch up here.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390
Send a letter to the editor:
Email: letters@dailyjournal.com