The California Earthquake Authority (CEA) has published coverage enhancements not previously available including options of $150,000 and $200,000 for Coverage C – Personal Property; options of $50, $75 and $100,000 for Loss of Use; increased coverage amount on Building Code Upgrade of $30,000; and a new limit for Loss Assessment in the amount of $100,000 is now available. They have also added some sub limit items that will benefit the policyholders as well.
Along with this announcement the CEA said that on a statewide basis, rates are averaging a reduction of 10% that will vary depending on the type of policy, coverage and rating territory.
Remember that with Earthquake it is not about if, but of when. Protection is a serious consideration in order to protect the equity that you have in your property. Please feel free to give us a call for a quote and coverage recommendations. There is also additional information available on the CEA website which is www.earthquakeauthority.com.
Don’t forget that effective with August 2015 renewals Farmers is also offering a discount on Homeowners Insurance to those who protect their property with a CEA policy.