she can rebuild when many others can’t
Why can many others not rebuild? I would think only someone without a basic homeowners insurance policy on their home would be unable to rebuild. Don’t get me wrong I am very sorry for their loss just not clear on why they can’t.
Thanks.
A house 2 blocks from me burned to the ground 3 years ago. It is still a burned out hulk and no one has done anything. And I live in a homeowner association tract.
Most people are underinsured for fire damage. So if the house is damaged in a fire, they can rebuild. If the house Is burned to the ground, there’s not enough coverage. The owners just walk away.
Also there are 5 square miles of burned out hulks and the land is now a toxic wasteland. It will be years before anyone can rebuild anything. And in the interim, the owners will be obligated to either continue to pay the mortgage or abandon the home to the bank. And a lot of the owners are now dead.
So now you know.
You think everybody on Maui is rich?
Not everybody can rebuild. Not everybody has more than two nickels to their name. Do you want to tell me how somebody, who is poor, can rebuild after losing their house in a fire?
If she had lost her estate, she has the money to rebuild everything to the exact replica of what she would have lost. Many people there would move from a house to a one bedroom lot.
“Why can many others not rebuild?”
The residents there are very poor. If you go off Front Street in Lahaina, the homes are small and a little better than shacks. Same for the homes of the main streets in Kahului, Wailuku, etc. I would be stunned if many of them have insurance.
It’s going to be hard.
The character of Maui is gone forever.