I'll admit I don't understand insurance in CA specifically... But I have a decent general knowledge of a lot of insurance concepts from a past partner. Your na

I'll admit I don't understand insurance in CA specifically... But I have a decent general knowledge of a lot of insurance concepts from a past partner. Your naive guesses look to me to be on point. Another thing to consider, at least in the case of 'Replacement Cost' (What it would cost to build a house with similar features) versus 'Actual Cash Value' (What the house was worth on the market.) In the case of 'Replacement Cost' there is the issue that any changes to code must be factored in (i.e. a house built in 1980, may have wiring/plumbing/etc that had been grandfathered in but could not be approved as a new build today.) Increased risk of catastrophe is also a result of the root causes of massive losses from wildfires not being addressed at a government level.