October 27, 2015

CEA Announces coverage enhancements effective January 2016

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.