A Dixie Fire survivor can make a claim against PG&E for many different aspects of their loss. These hypotheticals discuss a homeowner’s real property claim only. They demonstrate that a claimant who desires to rebuild his property is generally entitled to substantially more “new money” (money in addition to insurance) than one who does not.
Property’s Pre-fire value: $300,000
Property’s Post-fire value ($10,000)
Total Diminution in Value suffered: $290,000
Less Insurance proceeds received for dwelling: ($250,000)
Net Diminution in value Claim against PG&E: $40,000
Statutory attorneys’ fees: $10,000
Total value of claim: $50,000
Attorneys fees on recovery: ($12,500)
Property’s pre-fire value: $300,000
Estimated cost to rebuild: $450,000
Estimated cost to replace trees and landscaping: $250,000
Total costs of restoration: $700,000
Less insurance paid for dwelling: ($250,000)
Less extended insurance paid for rebuilding: ($60,000)
Less insurance paid for tree damage: ($10,000)
Net property restoration Claim: $380,000
Statutory attorneys’ fees: $95,000
Total value of claim: $475,000
Attorneys’ fees on recovery: ($118,750)
As you can see, a homeowner who desires to rebuild is entitled to quite a bit more “new money” ($356,250) than a homeowner who does not ($37,500). That’s because:
The above is for purposes of illustration only. And again, it discusses real property loss only. Other damages that a homeowner may claim, such as compensation for loss of use of the property while it is being rebuilt and for the additional costs associated with temporary housing, are discussed here.
Call to discuss your situation. There’s never a charge to talk. Give us a ballpark estimate of what your home was worth before the fire, its square footage, and a rough idea of the size and number of trees that were on your property. Also let us know a bit about your insurance coverage.