California lawmakers are proposing a groundbreaking law that would require insurers to provide 100% compensation for homeowners' belongings without the need for an itemized list. This legislation aims to alleviate the mental burden placed on victims of catastrophic events, which is currently a requirement in many insurance policies. Other states have similar measures but at lower coverage percentages. This proposal seeks to recognize the emotional trauma of losing a home and streamline the reimbursement process for homeowners, making California potentially the first state with such a requirement.
If you suffer a total loss, we don’t want to put you through the agony of listing every item. This moment is about recovering, not reliving the pain.
The idea here is, we say, Look, this is the insurance plan that you own. We’re not going to require you to draw up this itemized list in this moment of incredible pain.
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