![]() In lower-risk zones, the cost is lower, so you won't be paying as much as people pay in high-risk zones.If an earthquake causes property damage, you will be covered for repairs or a rebuild rather than losing everything or going further into debt to make your home livable.Your financial obligations, like your mortgage, will not disappear they will grow. We work with several standalone earthquake insurance carriers who offer a variety of options like pool coverage and deductibles as low as two percent.If you experience earthquake damage without insurance to offset the costs, you may have to continue paying your mortgage and paying for a new place to live out of your pocket. Make sure you’re prepared for the worst with a good earthquake insurance policy from IBW. This provides an additional $10,000 in coverage. In case a home is not up to current building codes, you can purchase extra coverage for building upgrades your home may need after an earthquake. This is an additional $10,000 in coverage and is good for older homes that may not be up to current building codes. Optional Building Code Upgrade Coverage: You can also purchase extra coverage for building upgrades your home might need after an earthquake in order to get a reconstruction permit. Your policy through CEA will provide up to $100,000 toward your share of any assessment assigned by your homeowner’s association. Expenses like temporary rentals, restaurant meals, moving and storage, and furniture rental are covered.Ĭondo Assessment: For condo unit owners, coverage for special assessments you might be charged due to earthquake damage is also available. To protect things like fine china and crystal, you need to purchase optional breakables coverage.Īdditional Living Expenses: Also known as loss of use coverage, this covers temporary and additional costs you incur while your area is evacuated or your home is being repaired. The lowest available limit is $5000 and the highest is $200,000. Personal Property: Your belongings in your home are covered. Condo owners and renters don’t need to worry about dwelling coverage. You can purchase extra coverage for exterior masonry veneer. It does not cover landscaping, pools, fencing, separate buildings, or masonry. In California, earthquake insurance is similar to homeowners insurance in that it covers your dwelling and personal property but there are key differences.ĭwelling: The limit on your earthquake policy matches the limit on your homeowners policy. ![]() ![]() What Does California Earthquake Authority Insurance Cover? You must have a residential property insurance policy in place in order to purchase CEA-provided earthquake insurance. Nearly all property owners and renters are eligible to buy coverage. They’re the provider, but you purchase it from insurance agencies like IBW. ![]() CEA provides most of the earthquake insurance coverage in California. You can also choose to buy a policy backed by the California Earthquake Authority (CEA). Your homeowner’s insurance company is required to offer to sell you an earthquake policy at least every other year. Even if your home suffers catastrophic damage, you’ll be able to pick up the pieces and rebuild.īuying Earthquake Insurance in California In California, earthquake insurance can help you protect your home and family in the aftermath of a major quake. They may be unpredictable, but with the right insurance policy, you can prepare for them. They strike at all times of the day or night. Earthquakes don’t always feel like something you can prepare for. You’re the type who prepares for almost anything - that’s why you have plans and goals, buy extra insurance, pay for warranties, and work hard to take care of your family and home. California Earthquake Insurance You can’t prevent an earthquake, but you can prepare for it…
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