Living in Lava Zone 2

[Obie]

I had Allstate and I was compensated for everything I lost !
I don't think they would ensure me in lava zone 2 again.
They have ensured me at my new place in lava zone 3.

[MyManao]

I don't think they would ensure me in lava zone 2 again...

And therein lies the rub..

I suspect that getting insurance at this point is a moving target. Where it once was universally available I get the sense it is moving toward not being as available in the future. And at the moment subject to the whims of a particular insurer. 

There's a certain amount of herd mentality here. A dominoes effect if you will. And when reading the tea leaves one must look to the prevailing winds for signs of how things might be bumbai. Maile David (who I mentioned in a previous post in this thread) pointed out that conventional financing is become harder to get in LZ1 and LZ2..

And now here's an interesting clue... In todays Trib there's this article..

https://www.hawaiitribune-herald.com/202...-projects/

County accepts $83M for Kilauea eruption recovery projects

Which starts out sounding like, omg how cool, the county will have the bucks to do all sorts of things.. but when you read it you find it all boils down to buyout money. From the article..

"The majority of the funds — $78 million — will be used for a voluntary housing buyout program that will allow Puna residents impacted by the eruption to sell their property to the county for an amount based on the property’s value before the eruption, up to $230,000 each.

Another $1.6 million will go toward housing relocation services, while the remaining $4 million will cover administrative expenses..."

So, county gets some money to buyout folks.. ie shut down further development on those properties. That's an interesting cup of tea for sure...

[kalakoa]

shut down further development on those properties

Doesn't work unless County gets all of them, which they won't.

Remember, emergency bailout funding is one of our key industries: the few that remain behind in Leilani are critical to a future budget year.

Best part, it's almost certain that one of the buyouts will be used to purchase a new property elsewhere in the rift zone, just like happened with PGV.

[kalakoa]

At least Fissure 8 now has a name: Ahu‘aila‘au

https://www.hawaiitribune-herald.com/202...fissure-8/

Only took the Board of Geographic Names two years to collect surveys and listen to testimony.

[eightfingers2.0]

So who’s Ailaau? Does Madam Pele know about this?

[dobanion]

"The majority of the funds — $78 million — will be used for a voluntary housing buyout program that will allow Puna residents impacted by the eruption to sell their property to the county for an amount based on the property’s value before the eruption, up to $230,000 each.

Another $1.6 million will go toward housing relocation services, while the remaining $4 million will cover administrative expenses..."

Wait a sec. Does that mean someone whose property was inundated with lava in 2018, who may have collected insurance money already, can then sell their lava lot for $230,000k to the county?

What a windfall that'd be.

[Durian Fiend]

Wait a sec. Does that mean someone whose property was inundated with lava in 2018, who may have collected insurance money already, can then sell their lava lot for $230,000k to the county?

What a windfall that'd be.

I hope exemptions aren't left up to an "honor system" requiring owners to voluntarily turn down funds when they've already collected on insurance.  
Surely the 4 million in administrative expenses will prevent any such misuse. 

[dobanion]

"Honor system" for $230,000? Riiiiiiiight.

Some people with lava lots in Leilani and Kapoho (and in between) are gonna be beating down the door for those buyouts.

We haven't read the full document on the details. I'd assume somebody thought of this and wrote it into the law. If they haven't, oh boy.

[Rob Tucker]

It is my understanding that any insurance payouts deduct from disaster payouts.

[kalianna]

That would make sense but I'm wondering how they will know if someone claiming the buyout says they had no insurance. I can't imagine that the county has the competence to successfully investigate each claim.