General Definitions of Magnitude, Science Definitions of Magnitude What is Magnitude in Relationship to Earthquakes How are Magnitudes Measured? Different Methods of Measurement. Magnitude and the Importance to the Earthquake Insurance Industry: Magnitude has many different definitions. However as it relates to the insurance industry it is simply a measurement of an earthquake. The use…Read More
Is there a War Exclusion on a California CEA Earthquake Policy? Would a War created Earthquake be Covered by the California Earthquake Authority? How Could War Create an Earthquake? A CEA War Exclusion: What it means The War Exclusion on the CEA Policy In other posts about Earthquake Insurance exclusions we have stated that War…Read More
A great article found on DNYUZ highlights this risk of Tsunami to Washington State Tsunamis are not covered by Earthquake Insurance, but are they covered by Flood Insurance? The Media Story about Ocean Shores Washington State: An exellent article found in DNYUZ.com titled “The Tsunami Could Kill Thousands. Can They Build an Escape? was published…Read More
Alternative Options for Earthquake Insurance from insurers other than the CEA or California Earthquake Authority. Other Earthquake Insurance Options to the California Earthquake Authority Underwriting considerations for Alternative Quake Vendors The CEA is a public/private insurer that issues earthquake insurance for many insurers in the state of California. The CEA is the largest insurer of…Read More
What is an Earthquake Insurance Broker? How do you get Earthquake Quotes from Multiple Companies Who writes Earthquake Insurance? How to Find an Earthquake Insurance Broker? Numerous insurance agents offer earthquake insurance policies. Most offer just one residential earthquake option- typically the California Earthquake Authority, also known simply as the CEA. A few offer the…Read More
What is the Great ShakeOut Day? -The third Thursday of October each year is called the Great Shake [ShakeOut] Out Day. -The Great Shake Out Day is an International Day The great shakeout day is a day of international quake preperation “The Great ShakeOut earthquake drills are based on scenario earthquakes that could effect the…Read More
A sublimit is a classic insurance definition that few consumers understand. Sublimits “limit” coverage on certain items of property. The Definition of a Sublimit found on a CEA policy: According to the Homeowners Choice CEA policy [version BEQ-3C (01-2019 edition] page 7 a Sublimit “means a dollar limit on a coverage for a specific type…Read More
What year was the CEA Created and Founded? When did the California Earthquake Authority sell its first policy? How Old is the CEA? When was the CEA Created? The CEA was created in 1996 by the state of the California Legislature. “There is hereby created the California Earthquake Authority, which shall be administered and governed…Read More
For consumers Earthquake Insurance can protect you and your family from the devastating financial costs of rebuilding a structure, often an owner occupied home. These costs are significant. Understanding the different protections available can significantly help protect you and your loved ones. It is important to understand that Land Movement, including earthquake is NOT covered…Read More
Earthquake Insurance, such as with all insurance is subject to exclusions. Not all California policies are the exact same, but they tend to fall along some common lines. Earthquake Insurance is subject to all sorts of exclusions including, but not limited to the following: War, Nuclear. and Pollution Fire and Explosion Ordinance and Law /…Read More