Plaintiffs own a three story 14,000 sq. ft. mansion in Beverly Hills worth approximately $50,000,000 that suffered extensive water damage when a pressurized pipe located in the 3rd floor laundry room burst, causing water to flow down all the way to the 1st floor. The water became trapped under the travertine floors on the 2nd and 3rd floor, incapable of being dried down. The house was custom built by a developer, leaving no stones unturned. The travertine floors were custom designed with beveled edges and the affected walls were made of beautiful venetian plaster. While a very close travertine floor was found to match the existing floors, it was impossible to blend the new tiles to the existing tiles without disturbing and affecting the reasonable uniform appearance. Insured’s demand to settle the claim to replace the floors. $3 Million.
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