Press Democrat: Gov. Brown signs home replacement-cost legislation
By Bill Swindell
Gov. Jerry Brown signed legislation this week requiring insurance companies to provide homeowners an estimate every two years how much it would cost to replace their homes.
The legislation, AB 1797, sponsored by Assembly member Marc Levine, D-San Rafael, was in response to the plight many residents faced in the aftermath of last year’s wildfires. A large number of fire victims found themselves severely underinsured between their insurance payouts and the overall cost of rebuilding. Some face deficits as much as hundreds of thousands of dollars.