What is the Difference in Coverages for Earthquake Insurance

[starbucks65]

Mainly, I am looking for the difference of it being endorsed or as a separate earthquake policy for homeowners.

Thanks

 

[Jerbond]

Basically after the big EQ in Northridge 1992? EQ policies either went to the wayside, or were extremely expensive. The CEA was formed and offers a mini, and maxi eq policy. The mini is the basic coverage-
Dwelling (replacement)
Personal Items ($5K max)
Loss of Use ($1.5K max)

The maxi increases the personal items, as well as loss of use.

Cea can only be purchased by carriers that support (write) through the CEA- Check their website, pretty much all captive agent carriers.

Independents like Travelers, The Hartford, etc have their own policy- because is mandatory in the State of Ca. that any carrier selling HO policies must offer EQ! Because of this requirement, the carriers charge a higher premium, basically in hopes you don't puchase (In my opinion!)

There are some stand alone carriers that actually offer more protection, and usually are very competitive. I just wrote a home in Northridge, Increased personal property 30%, loss of use was increased $10K, and saved the guy $1500 a year! There are opportunities out there.

 

[starbucks65]

Thanks for all your help.

Just to clarify, I am assuming that the mini policy is where you endore the Home policy for earthquake coverage, right?

Again thanks.