The funny thing about insurance is:
(I am not sure this applies everywhere or with every company but,)

Homeowners insurance does not cover property, it only covers structure.
So lets say that the cost to rebuild one of these homes is $500K - $800K and the value is 1.5 mil..
- The insurance will only cover the $500-$800K. And, since the property has slid down the hill, chances are likely there is nothing left for them to sell or rebuild on.

In other words. My assumption is, the homeowner who owned a 1.5mil house this morning, will only get 1/2 that from an insurance settlement.

Again, as far as I know, insurance does not cover property, only structure.

I feel very bad for these home owners. As my home is also built into the side of a mountain, I can feel their pain.

B

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"When two people agree on everything, one of them is not necessary" - Arliss