What You Need to Know About California Earthquake Authority Insurance and San Rafael Property Damage

Posted on: November 4, 2014 | By: Michael T. | california earthquake authority, cea, property damage restoration

Property damage insurance San Rafael

What You Need to Know About California Earthquake Authority Insurance and San Rafael Property Damage

Insurance tips for Property Damage Repair San FranciscoSituated on a major fault line, California is prone to earthquakes. With them come floods, fires and major structural damage to properties in San Rafael. Only 12 percent of homeowners are covered by earthquake insurance, leaving 88 percent of them stricken when disaster strikes and suffering San Rafael property damage. As earthquake coverage is not included in homeowners insurance, you will be left to repair your property and replace your valuables – on your own.

In San Rafael, the risk of properties falling down is very high. Even low-risk areas are unsafe, as earthquakes lie dormant for years, quietly building tension until they shatter the earth. In order to minimize property damage during such an event, it is wise to reinforce your building so that it can withstand the worst shake. Call Allied Restoration Company on 415-529-5637 to find out how to go about strengthening your property.

According to Insurance Journal, California Earthquake Authority is the largest insurer in the U.S. against seismic catastrophe, responsible for roughly 70 percent of earthquake policies. With over $1 Billion in damage from the latest disaster in Napa Valley on Aug. 24, there is renewed interest from homeowners in San Rafael to protect their property. So what do you need to know about California Earthquake Authority Insurance?

What Types of Coverage are Available?

Earthquake insurance is available for all individually owned residences, including mobile units, condominiums and townhouses. They also offer insurance against property damage for renters, but they do not cover commercial, business or industrial buildings.

How is a CEA Policy Purchased?

California Earthquake Authority states that policies are only available through participating insurance companies. All claims, renewals, applications, invoices and payments are handled by their affiliates. If your homeowner’s insurance company is a member, you can purchase earthquake insurance through them.

Do You Need a Companion Policy?

In order to qualify for a CEA insurance policy, you must be covered by homeowners insurance. This is considered a companion policy to your residential one, and they will share the same renewal and cancellation dates. Should you terminate your hazard insurance; the CEA policy will automatically become null and void.

What Makes the CEA Reputable?

The California Earthquake Authority offers the strength to rebuild after a sizable shake. Supported by participating insurance companies, their claim-paying power is around $10 Billion. This gives them the ability to cover a great deal of damage, giving homeowners the security they need.

  • An exceptional financial rating;
  • a huge team providing outstanding service;
  • rates are scientifically calculated, and not based on profit gain;
  • independence from all government budgets;
  • comprehensive coverage against earthquakes.

With the next major earthquake likely to strike within the next three decades, homeowners are advised to make preparations. San Rafael Property Damage can be drastically reduced by investing in building renovations. Call Allied Restoration Company on 415-529-5637 for valuable advice about how to make your home less vulnerable to earthquakes.