In terms of the Los Angeles fire victims can expect from their insurance adjustment

Even with flames still burning in parts of Los Angeles County, the total insured losses from the fire this month are already estimated at more than $ 30 billion, according to Goldman Sachs.

The huge amount of damage dwarves the previous record of $ 12 billion in insured losses caused by northern California’s camp fire in 2018.

With over 15,000 structures already destroyed in Palisades, Eaton and the ship with minor fires, according to state officials, some public insurance tasks warn that it may take years before the requirement is resolved, and in some cases homeowners may not have that coverage, They thought they had.

ONE Recent examination From the University of Colorado Boulder of a fire in 2021 found that three -quarters of those who lost their homes were not fully covered for total loss.

As thousands of homeowners in Southern California File Insurance claim to start the recovery process, they meet one person who will decide how much the insurance company has to pay for their losses – the insurance adjustment.

Each plaintiff is assigned an adjustment of the insurance company. It is the job of the adjustment to assess the damage and prioritize the broken and severely damaged homes over them with minor injuries.

California’s law requires insurers to immediately pay policyholders one -third of the estimated value of their belongings and at least four months of rent in the event that they are completely displaced.

Gavin Newsom recently issued a one-year moratorium that prevented insurance companies from canceling or issuing non-renewals for homeowners in the neighborhoods or adjacent postal codes affected by Palisades and Eaton-Brande.

After the adjustment assesses the damage, they will decide how much the insurance company pays out for the claim.

Those who submit can get a conciliation offer on site, but Amy Bach, CEO of the non-profit consumer lawyer group United insurance, says ABC News that homeowners must resist the temptation to sign the dotted line right away.

She recommends asking insurance companies for a copy of the policy and studying it for details of what level of coverage may apply.

“Give your insurance company a chance to do the right thing, but don’t be a pushover,” Bach said. “Understanding the reality-you insurance company is a pre-profit company and you must be proactive to recover what you are fully due to. Be informed of your rights and your insurance company’s obligations and be polite assertive.”

Experts say that if an insurance company tells a homeowner that something is not covered, they must get a different statement, including getting independent valuations of replacement costs in the home and possessions.

“The chance is that the insurance company’s adjustment will use a software program to calculate what they owe you,” Bach said. “Computers are not repairing and rebuilding home – contractors and subcontractors do it. So that’s what they want to charge that matters.”

If the homeowner disagrees with the insurance company’s assessment, they can appeal the decision and hire a public adjustment against a fee, according to Bach.

The public adjustment’s second statement can help when negotiating with the insurance company, Bach added.

Public adjustments can be found via the California Department of Insurance Websted, and if homeowners are not treated fairly – they can file a complaint for free with the same department.

Bach suggests holding detailed notes on all conversations with the insurance company and the adjustment including the dates and times of speech, the names of these representatives and a summary of what was said.

She also recommends sending a follow-up email after each conversation to document the progress.

Even if the affected homeowners are insured, experts also recommend applying for disaster relief from the federal emergency administration agency.