California E&S Insurance

This is true in most states, but California is unique. California Insurance Code 2051.5(c) allows a policyholder, in the event of a total loss, to receive their full replacement cost limit, plus code upgrade limit, plus extended replacement cost to rebuild in the same location, to rebuild in a different location, or to purchase a home in a new location. I don’t belong to this subreddit, but this randomly appeared in my feed lol. I’ve worked in reinsurance for the past 15ish years and am very familiar with CAT events. I’ve seen folks take the proceeds from their totaled home in CA to purchase a new home across the country in VT.

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