California Fair Plan in Topanga

[gard500]

What is the name of your state (only U.S. law)? CA

Hello,

We recently purchased a home in Topanga, CA. For those of you not familiar, it is the next canyon over from Malibu and very susceptible to wildfires. Because of this our only option is the Fair Plan.

Like a lot of houses in Topanga, this one has been added on to over the years without going through the permitting process. So the square footage listed with the county assessor is not accurate. It has been this way for well over 20 years and we are concerned about getting the local government involved even though we would be trying to make it right they may require parts of the house torn down or require expensive modifications that just aren't in our budget after the purchase.

Here is our question that we have been unabled to get answered by anyone before, even the Fair plan. If we lose our house in a wildfire and it needs to be rebuilt. Will they rebuild it to the square footage that the assessor has listed or what was actually here before the loss? We chose a policy amount that would cover the actual square footage to be safe, but it would certainly give us peace of mind knowing that we could rebuild the house we have now versus something a third of the size in case of a total loss.

BTW, our coverage through the Fair Plan is, "Limited Replacement Cost Coverage with no additional percentage pays replacement costs up to policy limits only".

Any input would be greatly appreciated!

[moburkes]

The county assessor has nothing to do with your insurance policy.

[gard500]

Thank you. So if the assessor has nothing to do with it, then it sounds like it is purely based on your coverage limits. Does that sound correct? Anyone have a differing opinion or further information?

Thanks again!

[JustAPal00]

I inspect for Fair Plan in PA. You will receive your policy limit if the home is destroyed. Hopefully that is enough to rebuild the home.