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Why almost none of the homes burned in LA have been rebuilt since last year’s fires | Wildfires destroyed 13,000 homes. In LA County, just 7 have been rebuilt. (www.vox.com)
submitted 10 months ago by to c/california@lemmy.world
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[–] 5 points 10 months ago

A lot of disaster insurance in California is not offered by private insurance but backed by a state 'backstop' plan. You have a choice of nothing or this plan. The reimbursement rates are totally not replacement value.

Anyone who did have state insurance probably collected a fraction, took the loss, and moved elsewhere.

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