basis. For personal belongings, like electronics, furniture, or clothes, the insurance company typically offers ACV coverage by default. Replacement coverage likely costs more than ACV coverage as it provides more comprehensive protection. However, replacement cost coverage also ensures homeowners can replace their items without having to pay out of pocket. • Get second opinions on the value of your loss. Evaluate whether you will need a public adjuster or attorney to help with your claim. o Professional appraisals of your home and valuables are very useful. This is particularly true if you are underinsured and believe the amounts you will recover from your insurance will be less than the “cost basis” of your property. A qualified real estate appraiser can help you prove the pre- and post-loss value of your home and help you make a decision on replacing it by buying elsewhere versus rebuilding. Appraisals of high-value personal property items “just before” and “just after” the loss are also particularly helpful if you anticipate insurance shortfalls for those items. o You should also get at least one licensed contractor's estimate or bid on the cost to rebuild your home just to get a reasonable sense of the actual cost as compared to your coverage limits. This ensures that the estimate reflects local conditions and the demand surge following a disaster. • California has special rules related to insurance and deadlines that are designed to make it easier for you to collect all available funds after a total or partial wildfire loss. The California Department of Insurance has some great resources to help you throughout the process. Wildfire Resources (California Department of Insurance) • Partial Loss If your home was spared but exposed to extreme heat and smoke, there is guidance for potential partial loss insurance claims, proper cleaning, inspection for damage, restoration
of healthy indoor air quality, and repair of obvious and hidden damage. United Policy Holders has a few resources that could get you started. o Returning to your home after a wildfire: A post-evacuation checklist o Smoke and ash damage from a wildfire o Thermal (“extreme heat”) damage from a nearby wildfire
FEMA & The Red Cross • Apply Online at DisasterAssistance.gov.
Venbrook Insurance Services | CA License 0D80832
Next Steps: Where to Start After a Fire
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