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(Courtesy
USGS)
Q: How
do I decide whether or not to get earthquake insurance?
A: You
should consider the following factors when deciding whether or not to
get earthquake insurance:
-
proximity
to active earthquake faults
-
seismic
history of the region (frequency of earthquake time since last
earthquake
-
building
construction (type of building. and foundation
architectural layout materials used)
-
quality of
workmanship
-
extent to
which earthquake resistance was considered by the designer
-
local site
conditions (type and condition of soil)
slope of the land
-
fill
material
-
geologic
structure of the earth beneath
-
annual
rainfall
-
value of
the building and its contents
-
cost of
the insurance and restrictions on coverage (i.e. the deductible).
California Earthquake Authority
(CEA)
(Courtesy
the
CEA)
The CEA was formed to provide
earthquake insurance to residential property owners including
homeowners, individual condominium unit owners, mobile homeowners, and
renters.
Your
dwelling must be covered according to the CEA policy guidelines;
however, other structures such as outbuildings, swimming pools, and
masonry fences are specifically excluded (as is the case with the
majority of earthquake policies).
You cannot purchase earthquake coverage directly from the CEA. The
CEA does not offer stand-alone earthquake policies. Only licensed
California insurers who are CEA member companies can sell CEA policies.
You must have a residential property policy in-force or be purchasing a
new residential property policy from a CEA member insurer in order to be
offered a CEA policy.
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