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It specializes in providing earthquake insurance to homeowners, mobile-home owners, condo unit owners, and renters throughout California. Policies are offered through participating insurance companies, rather than directly from the CEA.
In a 2022 interview with KCRA, a FAIR Plan spokesperson stated that the average cost of a policy is about $3,200 per year, which is significantly more than a typical home insurance policy in ...
After the 1994 Northridge earthquake, nearly all insurance companies completely stopped writing homeowners' insurance policies altogether in the state, because under California law (the "mandatory offer law"), companies offering homeowners' insurance must also offer earthquake insurance. Eventually the legislature created a "mini policy" that ...
Earthquake insurance is a separate endorsement or policy, depending on the state, for coverage from damages caused by an earthquake to your home and belongings. Typically, earthquakes aren’t ...
Due to the large amount lost by insurance companies, most insurance companies either stopped offering or severely restricted earthquake insurance in California. In response, the California Legislature created the California Earthquake Authority (CEA), which is a publicly managed but privately funded organization that offers minimal coverage. [69]
Standard home insurance policies may cover certain types of natural disasters, like storms or wildfires, but there are some common exclusions. For instance, flooding and earthquakes are commonly ...
California Earthquake Authority, a privately funded, publicly managed organization that sells California earthquake insurance policies; Canadian Economics Association, an academic association of Canadian economists; Compulsive Eaters Anonymous, 12-Step Program for Compulsive Eaters
To buy or not to buy earthquake insurance. Two weeks after Haiti's devastating temblor, that question is on the front burner again. Whether you live in St. Louis or San Francisco, it's hard to ...
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