Part 6/9:
Bashet's case exemplifies a dire trend as the FAIR Plan often falls short of meeting the rebuilding needs of high-value properties. Policies typically insured up to $3 million, but homes can exceed $20 million, presenting a substantial gap that leaves many homeowners at risk of losing life savings and investments in the face of disaster.
As wildfires continue to wreak havoc, concerns have grown about opportunistic developers preying on devastated property owners. Governor Gavin Newsom's executive order aims to mitigate this by protecting residents from predatory land speculators; however, critics argue that the provision only stands for three months—hardly sufficient time for recovery from such catastrophic events.