In this particular case, from 20,000 feet and with the benefit of hindsight, you can see how this happens, and it is instructive. My brother bought the vineyard 5 years ago, from a woman whose husband passed away but in any event had probably bot insurance from one company maybe even one agent for 25 years. Maybe 40 years.
From the start of that saga, to the present, that particular area had morphed from “out in the boonies” to Gaia-worshipping ecological frenzy zone with the recognition that the entire area drains into the Russian River, also considered an eco-treasure. (it *is* nice up there)
Point being, the oil you pulled out of your tractor and dumped on the ground in 1978 is a crime against humanity in 2017. Now, you and your forebears may have stopped dumping your oil in 1965 but if FEMA finds it, today, under these conditions, you’re gonna have a problem on your hands that will destroy you.
I don’t know how applicable it would be on an ordinary house in the suburbs. But “out in the boonies” has evolved into a “nature preserve” and the enviro standards have gotten super strict. Just as one portion of an example, you could be on the hook for $100K just in lab reports and testing in a worst case scenario. I know of one case my bro worked on where the net value of a piece of property was potentially reduced from $2 million to about $150K because of toxics found and the costs for remediation that ultimately had to be performed. That’s a big hit.
I think the lesson is, it’s crazy to underinsure, because it’s generally a pretty cheap bet, few hundred bucks a year.
Just as a FYI, I have possibly been a little snarky at the enviro-frenzy relative to the fires up in Sonoma/Mendocino.
Nope. They are scared shitless about the rains which are starting NOW. As in NOW NOW.
The enviros are scared about toxic runoff polluting the Russian River.
I am informed that FEMA (or whomever they may have hired) poss Army Corps Engineers is tearing down the barn (metal bldg) on the property TODAY. I was aggressive about getting my stuff outta there and probably wise to have done so.