The reason I bring this up is because my homeowners insurance policy needs to be renewed; the basic premium is approximately $1100.

Here is a brief overview of the pros and cons of earthquake insurance: Pros ⇒ From a pricing standpoint, now is a good time to be looking for earthquake insurance. Earthquake insurance policies are available for homeowners, condo unit owners, mobile homeowners, and renters. Earthquake insurance has come a long way since the California Earthquake Authority was formed in 1996 after the destructive Northridge Earthquake in Southern California.In the initial days, plans were high-cost, high-deductible with low coverages.

Earthquake deductibles. Posted in Insurance. With skyrocketing housing prices, insurers say a big quake could wipe out vast amounts of equity, but critics say relatively few really need quake insurance. Earthquake insurance deductibles are often calculated as a percentage of the coverage for the entire home. Only you can ultimately decide whether the pros outweigh the cons, of course.

Property Insurance Coverage Law Blog.

You can choose the amount of coverage you need as well as deductible options. Posted in Insurance.

Pros and cons of earthquake insurance. I encourage your association to contact a professional insurance broker specializing in homeowner associations to discuss the pros and cons of earthquake insurance, as it relates to your association. People living in the California Bay Area have a 75% chance of an earthquake of magnitude 6.0 or greater hitting them. Property Insurance Coverage Law Blog. Earthquake insurance : The time is right to shop, but read the fine print. I am asked all the time for my opinion regarding the purchase of earthquake insurance.

Glenn Pomeroy, head of the California Earthquake Authority, spent the weekend in Ridgecrest, near the epicenter of Friday’s 7.1-magnitude quake and … Earthquake insurance generally comes with a deductible of 15% of the home's value, according to John Rundle, a professor of physics at the University of California, Davis.

Use the CEA Premium Calculator for a free CEA California residential earthquake insurance premium estimate. Share | F-E-M-A. The Insurance Information Institute has an excellent article which outlines the actual risks in each of the regions of the United States that can be complementary to your search for the pros and cons of earthquake insurance. A company representative representing the earthquake insurance provider will be able to provide you will more details about coverage options and rates. The Pros and Cons of Earthquake Insurance.

THE POLICYHOLDER'S ADVOCATE® Home Insurance The Pros and Cons for Purchasing Earthquake Insurance The Pros and Cons for Purchasing Earthquake Insurance. The pros and cons of California earthquake insurance must also include your location, the type of home you own, and the amount of risk that exists in your location.

As part of the process, the insurance company is also offering me the opportunity to buy earthquake insurance for an additional premium of $839. Posted on October 4, 2012. Earthquake insurance policies are available for homeowners, condo unit owners, mobile homeowners, and renters. Define no-fault insurance and discuss its pros and cons. I am asked all the time for my opinion regarding the purchase of earthquake insurance. With our not-for-profit mission, we set earthquake house insurance rates based on the latest science, not profit. California earthquake insurance policies would cost the average Bay Area homeowner more than $2,000 annually. The Pros and Cons of Earthquake Insurance. A company representative representing the earthquake insurance provider will be able to provide you will more details about coverage options and rates.

However, there are limits and exclusions with earthquake coverage, and it traditionally has been expensive. but only 14% of California residents have earthquake insurance. The California Earthquake Authority is a not-for-profit organization that offers earthquake insurance, often partnering with other insurance companies to offer earthquake protection add-on policies.

Here is a California Earthquake Authority insurance premium calculator. Here’s where many homeowners find an issue with earthquake insurance. Get Your Free California Earthquake Insurance Estimate How Much Does Earthquake Insurance Cost? Ask someone there about the pros and cons of living in the area, and invariably. Earthquake home insurance must be added by buying a separate policy. Earthquake damage to your California home is not covered by a standard homeowners insurance policy. Different associations reach different conclusions regarding whether earthquake insurance makes sense for their associations. THE POLICYHOLDER'S ADVOCATE® Home Insurance The Pros and Cons for Purchasing Earthquake Insurance The Pros and Cons for Purchasing Earthquake Insurance. Now there are a variety of plans to suit various risk tolerances and situations.

Why Do So Few California Homeowners Have Earthquake Insurance?.