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Insurance Companies Cannot Deduct The Cost Of Land From Your Replacement Home Purchase in California

DANIEL VEROFF | June 4, 2019 | 163 views

Many insurance policyholders who have lost homes in the devastating California wildfires call our firm and ask, Can my insurance company really deduct the value of the land under the replacement home I purchased from my claim payment? This is a great question because this is now an unlawful tactic by the insurance companies that has unfortunately pervaded this state recently. Finally, last week the California Department of Insurance officially agreed and issued a bulletin explaining why. The bulletin is not legally binding, so insurers can still refuse to comply, requiring litigation.

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The Crescent Start Insurance Company Limited is a registered insurer with the Securities & Exchange Commission of Pakistan. The company is also listed on Karachi and Lahore Stock Exchange. It is also a member of Insurance Association of Pakistan.

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