Can You Even Get Earthquake insurance in California in 2024? Earthquake Issuance during Crazy Insurance Times Who is writing Quake Insurance right now? The Background of the Crazy California Insurance Situation: The insurance market in California in 2024 is in a very crazy state. Numerous property insurers, including State Farm are not accepting new home…Read More
The CEA is enacting insurance changes to their earthquake insurance policies. In a letter sent directly to exisiting consumers. The CEA states that they are “writing to inform you about changes that are coming to your California Earthquake Authority (CEA)earthquake insurance policy..” More information is also available on their website. The changes are numerous and…Read More
How to Purchase an Earthquake Insurance with Farmers Insurance in California. The CEA and Farmers Insurance Parternership Program. Alternative Quake Policies for Farmers Homeowners, About the Farmers CEA Earthquake Policy: Farmers Insurance provides earthquake insurance through the California Earthquake Authority. These quake policies are provided through the CEA Parternship Program. Farmers provides the marketing, sales,…Read More
the new type of earthquake protection available What is Parametric Insurance What is Parametric Earthquake Insurance and How its Measured How parametric earthquake insurance is different than standard earthquake insurance The Real Basics about Earthquake Parametric Insurance: Parametric Earthquake Insurance is a very new product globally and here in the United States. Provided by a…Read More
AM Best, a US Ratings Agency has downgraded the California Earthquake Authority Financial Strength Rating to B++. A B++ Rating is considered “Good.” The CEA’s rating before the downgrade was an A-. This rating is dated as of January 18th, 2023. An A- rating is considered “Excellent.” This is bad news all around. CEA Former…Read More
Does USAA offer earthquake insurance in California? The CEA USAA earthquake insurance partnership. Highlights of USAAs earthquake offering. Earthquake Insurance, From USAA: Insurer USAA offers earthquake insurance through the CEA. USAA is one of the Participating Partners of the CEA. Patnership with the CEA means that USAA is able to offer earthquake policies alongside homeowners…Read More
In a press release dated June 2022, Palomar states “A.M. Best affirmed the A− (Excellent) rating for Palomar and our A− (Excellent)” group rating for Palomar Holdings, Inc. Palomar Specialty Insurance Company, Palomar Excess and Surplus Insurance Company, and Palomar Specialty Reinsurance Company Bermuda Ltd. were also affirmed the rating of “A− (Excellent)” by A.M.…Read More
August 2022 – GeoVera announces that “GeoVera’s “A” (Excellent) rating by A.M. Best has been re-affirmed in June 2022. ” This rating refers to their Financial Strength Rating. An A rating is considered the third hightest FSR attainable. According to an online publication- the AM Best rationale for the rating include the following considerations. They consider…Read More
A new bulletin from Aegis states: “Aegis General Insurance Agency is pleased to announce a new California Residential Earthquake product offering... Palomar Specialty Insurance Company.” This means that Aegis is teaming up to sell Palomar property Earthquake Insurance. Palomar insurance, a California Earthquake Insurer is very well known in the property insurance space. Known for…Read More
In California, Amica Mutual Provides Earthquake Insurance through the CEA The Insurer is based in Rhode Island Amica has an A+ Financial Strength Rating while the CEA has an Fincnial Strength Rating of A-. When you purchase earthquake with Amica you are purchasing a CEA policy. About Amica’s Earthquake Offering: According to the California Department…Read More