|
- Executive Department State of California, “Proclamation of a State . . .
California law requires insurance companies to pay at least two weeks of ALE benefits to evacuees and provide an advance payment of no less than four months of ALE for policyholders who experienced a total loss 2 Insurers are further required to provide ALE coverage for a minimum of 24 months after a state of emergency, plus an extension of 12
- Additional living expenses coverage: A complete guide - Insurance. com
However, some states have laws regarding how long insurance companies must provide ALE coverage, generally in the case of a major catastrophe where a state of emergency is declared
- PROTECTIONS FOR CALIFORNIA HOMEOWNERS
Current law gives homeowners a six-month extension if delays are out of the insured’s control (AB 1772 - 2018) Homeowners have choices after a catastrophic wild-fire Homeowners can rebuild a new home on their original lot, buy an existing home or build a new home in a new location
- New California Law Require Insurers to Pay Up to 36 Months of . . .
Only a few years ago, California enacted laws requiring insurers to provide coverage for Additional Living Expenses (ALE) incurred due to a covered loss relating to a state of emergency – almost every massive wildfire – for a period of no less than 24 months
- 11 Things You Need to Know About Additional Living Expense (ALE . . .
Additional living expenses are costs you would not normally pay but are forced to pay because of a covered loss – like a house fire or tornado If a tornado destroyed your home, for example, your insurer is required to cover the cost of accommodation until your home is rebuilt or repaired
- Wildfire ALE Coverage Gaps: What Survivors Must Know
California law requires insurers to provide at least 24 months of ALE coverage after a declared emergency, and homeowners can request extensions for construction delays — sometimes up to 36 months (California Department of Insurance) But two major issues reduce the benefit: Families often hit dollar caps long before the coverage period ends
- Lara moves to protect insurance coverage for Southern California . . .
In 2020, Commissioner Lara sponsored a new law — SB 872 authored by Senator Bill Dodd — that requires insurance companies pay at least two weeks of ALE benefits to evacuees and provide an advance payment for no less than four months of ALE without an itemized inventory form, among other consumer protections
- Understanding “Additional Living Expenses (ALE)” Coverage in Fire . . .
However, it’s important to understand that this coverage doesn’t last forever or provide unlimited funds Most policies will include a cap, either a dollar limit or a time limit (e g , 12 or 24 months) ALE payouts are typically made as reimbursements, not upfront lump sums
|
|
|