How L.A. fire victims can navigate insurance claims: Experts outline key steps for a smoother process

Southern California residents facing losses from this week’s Los Angeles-area fires are beginning to confront their next challenge: filing an insurance claim.

Southern California residents facing losses from this week’s Los Angeles-area fires are beginning to confront their next challenge: filing an insurance claim.

Though mainstream insurers garnered headlines last year for declining to write any new policies in the state amid growing fire threats, they still retain tens of thousands of pre-existing customers who may have been affected.

And while public claims adjusters — who are privately hired by consumers looking to avoid insurance companies’ adjusters — are warning that it can take years for claims to be resolved, California residents do enjoy some benefits not seen elsewhere.

A firefighter sprays water on a burning home as the Eaton Fire moves through Altadena, Calif., on Thursday.Justin Sullivan / Getty ImagesThe primary benefit is that all California property insurers must immediately pay out a minimum of one-third of the estimated value of a policyholder’s personal belongings, as well as a minimum of four months’ worth of rent for the local area in which they live.

Still, insurance industry experts are warning homeowners to expect to negotiate between the carrier, the claims adjuster and contractors for recouping losses and rebuilding — and that the ultimate payout for a home that has been damaged or totaled may be less than what policyholders thought they were getting.

https://www.nbcnews.com/business/consumer/la-fire-victims-insurance-claims-experts-steps-rcna187224

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