California mudslide expected to generate tens of millions in insured losses

California mudslide landslide insurance

A new Aon Benfield report indicated that insurance companies are bracing for sizeable claims from the devastation. Aon Benfield’s Impact Forecasting unit released a report predicting that the California mudslide brought on by heavy rains following massive wildfires in the region will generate widespread losses. Overall, the report predicts an economic loss above $100 million. That said, the insured losses will be within the tens of millions. The areas hardest hit by the mudslides are the cities of Carpinteria and Montecito. Parts of areas surrounding those cities had already been…

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California landslides cause millions in damage to celebrity homes

California mudslide landslide insurance

Demi Lovato’s new Los Angeles house was rendered unfit for occupancy before she ever moved in. California landslides have been wreaking havoc for homeowners, including certain top celebs. The massive downpours have been desperately needed by the state. Droughts and wildfires have plagued Californians. That said, as the dry land is quenched some areas have become unstable. The pop singer had yet to move into her new $8.3 million home when it was struck by a mudslide. Twenty four year old Levato’s home is in the Laurel Canyon neighborhood. Before…

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Mudslide insurance likely won’t cover Washington victims’ homes

California mudslide landslide insurance

The majority of homeowners policies do not include protection for this type of disaster. The already devastating recent news for homeowners who have suffered tremendous losses – or even who have lost everything – in the deadly Washington disaster, could become much worse as most likely do not have mudslide insurance coverage to protect them. The Snohomish County community will likely discover that this bad news is only going to get worse. Unfortunately, mudslide insurance is not included in standard homeowners and business policies. Additional coverage above and beyond the…

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Homeowners insurance won’t save you from a rockslide

Homeowners insurance rockslide

Natural disasters feel as though they are becoming more common but many policyholders don’t understand their coverage. As the weather heads toward another shift in the changing of the seasons, the potential for a new wave of severe storms is building, and homeowners insurance customers may not know exactly what type of coverage they have when Mother Nature decides to show the world what she’s really about. Rockslides, landslides, mudslides and sinkholes are all building up a new level of threat. While many property owners may feel that they have…

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