Why should I read my NHDS report carefully?
Friday, June 03, 2005
Ever heard of liquifaction?
Well, here's as good as reason as any to learn what it is.
I bet you each and every homeowner in Laguna Beach has discovered its meaning and right now are reading the NHDS (Natural Hazard Disclosure Statement) they got when they bought their homes VERY carefully...with their lawyers close at hand.
Never fear though. Californian's love their beachfront property. It will all be rebuilt eventually.
The question is: At what cost and how many lawsuits will determine who ends up paying for it?
Highlights from the article:
"Hundreds of residents displaced by a landslide that sent [17] multimillion-dollar houses tumbling down a canyon have been allowed to return, but some of them now face an agonizing question: rebuild, or move?
Officials said residents likely wouldn't be able to recoup their major losses. Insurers have been eliminating coverage for landslides in recent years, though some still offer it. Poulton Associates Inc. said a policy covering a $1 million home would cost about $3,500 a year.
'Right now we have a moratorium on Laguna Beach,' said Josh Feinauer, an administrator for the Salt Lake City-based insurer."
Well, here's as good as reason as any to learn what it is.
I bet you each and every homeowner in Laguna Beach has discovered its meaning and right now are reading the NHDS (Natural Hazard Disclosure Statement) they got when they bought their homes VERY carefully...with their lawyers close at hand.
Never fear though. Californian's love their beachfront property. It will all be rebuilt eventually.
The question is: At what cost and how many lawsuits will determine who ends up paying for it?
Highlights from the article:
"Hundreds of residents displaced by a landslide that sent [17] multimillion-dollar houses tumbling down a canyon have been allowed to return, but some of them now face an agonizing question: rebuild, or move?
Officials said residents likely wouldn't be able to recoup their major losses. Insurers have been eliminating coverage for landslides in recent years, though some still offer it. Poulton Associates Inc. said a policy covering a $1 million home would cost about $3,500 a year.
'Right now we have a moratorium on Laguna Beach,' said Josh Feinauer, an administrator for the Salt Lake City-based insurer."
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