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Waldo Canyon Wildfire: What We Learned From a Total Loss of Our Home

Waldo Canyon Wildfire: What We Learned From a Total Loss of Our Home. Howard L. Donaldson Present (Temporary) Home: 80920 Back to the Future: 2615 Rossmere Street 80919. OVERVIEW. Mitigate, Mitigate, Mitigate Homeowner’s Insurance/Black Forest Fire Document, Document, Document

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Waldo Canyon Wildfire: What We Learned From a Total Loss of Our Home

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  1. Waldo Canyon Wildfire:What We Learned From a Total Loss of Our Home Howard L. Donaldson Present (Temporary) Home: 80920 Back to the Future: 2615 Rossmere Street 80919

  2. OVERVIEW • Mitigate, Mitigate, Mitigate • Homeowner’s Insurance/Black Forest Fire • Document, Document, Document • Epilogue: Final Thoughts

  3. Mitigate, Mitigate, Mitigate • Read/heed the new Fire Code Provisions • Examples • Why they are vitally important • Consult Fire Department experts: follow their advice completely • Eliminate/minimize Dangerous Growth • Bottom Line: Try to ensure grass fires remain grass fires

  4. Homeowner’s Insurance • Can’t Have Too Much—But KNOW what you have BEFORE you need it • Call Policy Service Experts NOW, and ask: • “In the event of a total loss, what would you pay?” • “What is Coverage A; B; C; D? How are they related? How did you determine amount of A?” • “What is ACV? RCV? Depreciation?” • “What other coverage do I have? Code changes? TLE? Inflation Protection? Debris removal/demo?” • What happens if/when you are underinsured?

  5. Black Forest Fire • Huge Problem: Too many homeowners are significantly UNDERINSURED • Reason: ALL coverage categories are a percentage of “Coverage A” (Dwelling) . . . • . . . If that is inadequate, cumulative effect throughout . . . With tragic consequences • Examples

  6. Document, Document, Document • Burden MAY be on you to establish “Scope of Loss”—the VALUE of the property destroyed • That means you MAY have to prove EVERYTHING you owned . . . AND their values • Appraisals and Receipts—HHGs inventories from previous moves • Video Recordings • Photographs: one picture is worth a thousand words . . . And maybe even thousands of dollars

  7. Epilogue: Final Thoughts • Have a Personal Preparedness Plan • First Responders • Colorado Springs Community • www.coloradospringstogether.org • Merchants/fellow citizens • What if your Insurance Company balks? Is a “Public Adjuster” the answer? • Will you need to involve an attorney? • Community Assisting Recovery—“CARe, Inc.” www.carehelp.org

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