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In Reply to: EARTHQUAKE INS IN CALIF posted by DK on August 19, 1998 at 09:46:56:
: The rules re earthquake insurance in CA is very confusing. How does one get a clear picture of what is and is not available?
I'm not sure what is meant by "rules regarding
Earthquake Insurance", But, many Insurance company's nolonger offer earthquake coverage or don't offer it at competitive prices. Most of the companies that do offer earthquake coverage, offer only coverage the that mirrors the coverage of the California Earthquake Association (CEA). CEA coverage is as follows:
Amount of dewelling minus 15% deductible
$500O.00 Contents subject to the deductible
$1000.00 living expenses
No adjacent structure coverage
That is the bad news. The good news is; that there are for now two admitted A rated earthquake programs that have step in to fill this void in earthquake coverage. One Program is underwritten by USF&G Insurance Company. This program offers a complete comprehensive policy which provides coverage for dwellling, contents, adjacent structures, living expenses with dedcutibles from 10% - 20% . The lowest deductible 10% understandly, is not available to those locations near a known eathrquake fault, (sorry). This program also offers coverage that mirrors the CEA's coverage at rates 40% to 50% lower than the CEA program most of the time. The second program, I have found, is offered through members of the Professional Insurance Agents association, (PIA) it also offers a fully comprehensive earthquake program as well as coverage that mirrors the CEA's. It too is competitive to the CEA program.
I have been in the Insurance business in California since, 1972. I have been an Independent Property and Casualty Broker since, 1984. Anyone desiring any farther information regarding Earthquake Insurance or any other insurance In California, you may Email me at HuckabyIns@AOL.com
Robert A. Huckaby
PS I only found this site because I received a Email to visit the site on 10/27/98. I see that the question regarding earthquake was posted in Aug of this year and remained unanswered till now. I hope this helps the person who posted the question if they haven't already found the answer to their question elsewere or anyone else who may have the same question in mind and unanswered.
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