California based EQ Insurer launches new Earthquake Insurance Option
The new Options allows for increased flexibility
The New Geovera Earthquake Insurance Option:
Geovera, based in Fairfield California, has a launched a “new earthquake insurance policy” “with flexible coverage limits, a broad range of deductibles, and California’s lowest rates” according to a statement from the California Insurer. May 23rd 2021. According to the vendor: “California homeowners no longer need to risk their financial security while living in a high risk area.”
Who is Geovera Insurance?
Geovera “provides innovative insurance solutions in catastrophe exposed areas” and they are an excellant option for Earthquake Insurance for residents of California. Source. We consider Geovera insurance to me one of our best independent earthquake insurance options.
According to the insurer, “are the only A rated company to offer earthquake insurance online direct to homeowners.” However they also allow independent brokers to use them as well. They have an A financial strength rating from AM Best.
What is Earthquake Insurance?
Earthquake insurancde is a form of land movement insurance that covers your property from seimic shaking. The exact defintiion of an earthquake is exceptionally important within these policies and many of the policies have slightly different definitions. Earthquake insurance excludes other forms of land movement such as land slides and other land actions. Earthquake insurance policies can provide coverage for the main structure, other structure, loss of use, and personal property among other coverages. Typically EQ policies have large deductibles. Geovera offers deductibles of 2.5%, 5%. 7.5%, 10%, 12%, 15%, 20%, and 25%.
It is imperative to note that standard, unendorsed homeowners policies do NOT protect your the peril of earthquake insurance in the United States. A seperate policy or endorsement is almost always required.
How to Get a Geovera Earthquake Insurance Quote?
Please contact us today for a Geovera Earthquake Insurance Estimate.