Legal Question in Insurance Law in California

Fire Insurance Holdback

Our fire property sufferred a fire loss of approx $225K. The ins. co. held back approx. $43K and gave us what they call the ACV Actual Cash Value and stated they would pay the $43K once the work was completed. In the meantime, the property foreclosed before the work was completed and the lender sold the home at the auction sale. Do we have a right to still get the holdback of $43K?


Asked on 1/09/09, 10:34 pm

1 Answer from Attorneys
Daniel Bakondi The Law Office of Daniel Bakondi

Re: Fire Insurance Holdback

Maybe you should hire an attorney to try and handle this. After looking at the situation and writing a letter, the insurance co may be persuaded.

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Answered on 1/12/09, 6:26 pm


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