It has now been almost five years since California experienced the last earthquake of magnitude 6 or greater. The prior large event occurred in Napa, California. Experts all agree that this period of calm will end, usually with destructive results. The timing is unknown…
Earthquakes are necessary to relieve the immense tectonic forces that are pushing part of California northwest toward Alaska and the rest of the state southeast toward Mexico. Scientists have been warning Californians of seismic dangers, be it the Big One on the San Andreas fault or catastrophes that could strike from other faults, such as Hayward or Newport-Inglewood faults.
HDA’s earthquake programs offer the broadest available coverage in the marketplace; this will enable you to protect your property that is most susceptible to damage:
Policies are generally grouped into either Basic Coverage, Comprehensive Coverage or Customized Coverage. There are two philosophies of coverage which are divided into either a Single Limit policy or a Split Limit policy; the latter is the format that we are most used to on Homeowners Insurance policies and Fire Insurance policies. With a Single Limit policy, although it may be a superior form following a devastating total loss, it is important to understand that the deductible is based on a percentage of the coverage limit. Deductible options are available within a range of 2.5% to 25%.
It is highly recommended that you spend a few minutes truly studying the product according to your specific concern of risk, speaking to a specialist who has experience with all the programs and will be able to guide you toward the most appropriate program, coverage and deductible to meet your goal.