$2 billion Powerball lottery winner Edwin Castro's Malibu mansion destroyed in LA Palisades Fire

Comment #15

GiveFive — Sat, 18 Jan 2025 15:48:12 GMT

Some of WHO going under ?? The insurance companies? NOT HARDLY!

They are NOT going to pay many claims at all, and those claims they do pay will will be for about 10 to 15 percent of the house's actual value. Try rebuilding a $1,000,000 home with $100,000. See how far that amount of money will take you when rebuilding what was once a million dollar house. G5

Comment #14

GiveFive — Sat, 18 Jan 2025 15:41:59 GMT

It's hard for me to feel sorry for Edwin Castro. He's what insurance companies call Self insured meaning he's got enough money to pay to have his house rebuilt all by himself. Most wildfire victims aren't in the same boat as Ed.

They have mortgages and the bank that holds that mortgage required them to buy homeowners insurance naming them as the loss payee .

Ed aint sweatin' it right now. But most of his neighbors are. Lucky them. NOT! G5

Comment #13

GiveFive — Sat, 18 Jan 2025 15:30:13 GMT

You aint seen nuthin' yet.

Many wildfire victims that still have homeowners insurance have yet to file a claim with their insurance company, and they're about to find out something. Those victims are about to find out that their insurance company is going to deny their claim or they'll pay out pennies on the dollar to the victims.

When Hurricane Ian hit southwest Florida in September of 2022, many homeowners found out the hard way that while they thought they had insurance, they really d... [ More ]

Comment #12

JustMaybe — Tue, 14 Jan 2025 19:36:30 GMT

Insurance companies are like a person that lends you an umbrella and takes it from you the moment it starts to rain

Comment #11

Jadidit — Tue, 14 Jan 2025 02:07:42 GMT

It's terrible and you can't recover a lot of things that was destroyed..But as far as living arrangements they're all going to be taken care of from donations and funds...Like everyone no one would wish that on others...

Comment #10

Perfecttiming2 — Mon, 13 Jan 2025 00:32:07 GMT

Many don't have homeowners insurance.

Several insurance companies dropped their homeowners insurance clients in California in late summer with State Farm dropping them in March 2024 citing inflation. I know there were other reasons BUT it's horrible that companies did that! Some homeowners said they were dropped as recently as September 2024.... This entire situation is heartbreaking

Comment #9

LemonDrop — Sun, 12 Jan 2025 18:08:27 GMT

I live in California and the fires are horrible, whole neighborhoods gone. Some insurance companies canceled policies recently. Our largest school district LAUSD, closed schools Friday due to the smoke ashes. We live 35 miles south of the fires and can smell the fire as well as ashes on our car. Other states Nevada countries...Canada Mexico have sent firefighters planes to assist.

Hope the fires are under control soon.

Comment #8

Rman313 — Sun, 12 Jan 2025 05:16:49 GMT

Love California. Been there a few times. Beautiful state! Prayers going out to the family's who lost their homes

Comment #7

dickblow — Sun, 12 Jan 2025 00:10:44 GMT

what a shame if I had all that money why stay in calfornia I whould leave

Comment #6

JustMaybe — Sun, 12 Jan 2025 00:04:20 GMT

So sad.

All the insurance claims going on right now, I can only imagine the cost and the probability of some of them going under.

Comment #5

EnReval — Sat, 11 Jan 2025 18:52:23 GMT

Wonder will there be new bldg restrictions

Comment #4

Tang — Sat, 11 Jan 2025 17:36:42 GMT

I thought about him.

Comment #3

Wavepack — Sat, 11 Jan 2025 17:08:18 GMT

His Hollywood hills home, the one built on a steep incline and with a neighbor home destroyed recently in a mudslide, appears to have survived.

With more than a billion dollars in reserve, he's covered financially.

The fire control mismanagement in LA has hit the news, and its really bad. Hard to imagine a worse foul up.

Comment #2

Ranett — Sat, 11 Jan 2025 15:30:02 GMT

It happens to everyone. So sad.

Comment #1

hearsetrax — Sat, 11 Jan 2025 14:57:27 GMT

life in commie fornia .... hope no one was hurt or killed

$2 billion Powerball lottery winner Edwin Castro's Malibu mansion destroyed in LA Palisades Fire

Lottery Post — Sat, 11 Jan 2025 14:46:43 GMT

Lottery winner's house is one of thousands of homes decimated by horrific fires

By Kate Northrop

$2 billion Powerball lottery winner Edwin Castro's $3.8 million Malibu home was one of the many homes flattened in the Palisades Fire disaster that has been ravaging Los Angeles County since Tuesday.

The ongoing Palisades Fire has utterly decimated residential areas in Los Angeles County, erasing more than 10,000 homes and other structures. One of those homes is a $3.8 million Malibu mans... [ More ]