CEA aims to improve value, affordability of California Earthquake Insurance
Many Americans who live in quake prone areas choose to go without insurance, reasoning that remote risks is not worth the cost of pricey, limited coverage. The decision not to buy appropriate earthquake insurance isn’t always conscious. They choose to gamble with their valuable asset thinking that the risk quotient remains low. Insurance is best used to protect against uncommon but financially devastating events, and natural disasters certainly do qualify. Thanks to a recently adopted building code, Californians might have more reason to modernize their homes to better withstand a major earthquake. The standard, approved in August by the state Building Standards Commission is the first step for people to take the steps to reinforce their most valuable asset, according to Glenn Pomeroy, president and CEO of the California Earthquake authority.
There's no doubt that residents need encouragement in protecting their asset against the risks of a major earthquake. The take-up rate for homeowner’s earthquake insurance policies is about 12 percent, meaning that some homes in the Golden State are uninsured for earthquakes, according to CEA data. “In terms of protecting one's individual home, one's main asset in one's life, California is woefully unprepared for the next big earthquake” Pomeroy had emphasized. There is also a 99 percent chance of a 6.7 magnitude or greater earthquake striking California in the next 30 years. Meanwhile, the CEA is pursuing additional avenues, by trying to improve the value and affordability of earthquake insurance policies. They are also currently offering a 5 percent discount on earthquake insurance policies to people who have successfully completed a mitigation project on their home.
Home owners may forego their insurance for the simple reason that a policy might be expensive with limited coverage or the notion that the government will help out. The truth is that the government may be not be in a position to help as the President has to declare a major disaster before the Federal Emergency Management Agency can step in to help. Even if the damage is limited, that might not happen - even if you personally suffer a catastrophic loss. This is the time for a reality check before deciding for your home’s and family’s future. You can start by investing in mitigation, weighing the potential risks and determining if your area is quake prone.
Any kind of insurance policy must be evaluated by an expert, to ensure that the optimum blend of coverage and premiums is achieved. This is the kind of service that Allied Brokers, a California based insurance brokerage with a 50 year track record, provides clients the kind of insurance coverage they need. Allied Brokers represents over a dozen insurers, offering you the benefit of price and coverage comparison when it comes to selecting the right homeowner insurance policy. If you're thinking about earthquake, flood, umbrella or renters insurance, they can help you find the coverage that works best for you and your budget.
To know if you qualify, call Allied Brokers at 650.529.8564 or visit their corporate website at http://www.alliedbrokers.com/ for more information. Allied Brokers is a full-service insurance brokerage company that offers the best insurance policies at the right market price. Founded in 1954, they provide insurance products throughout California and several other states in America. They have insurance policies and services for any of your insurance needs, which include: auto, homeowners, apartments, condominiums, earthquake, flood, renters, business, health, life, collectibles and estate planning. They offer expert advice and knowledge on extended coverages and have established long-standing partnerships with the most reputable insurers and client referrals. They will treat you like an individual and not just another business dealing.
There's no doubt that residents need encouragement in protecting their asset against the risks of a major earthquake. The take-up rate for homeowner’s earthquake insurance policies is about 12 percent, meaning that some homes in the Golden State are uninsured for earthquakes, according to CEA data. “In terms of protecting one's individual home, one's main asset in one's life, California is woefully unprepared for the next big earthquake” Pomeroy had emphasized. There is also a 99 percent chance of a 6.7 magnitude or greater earthquake striking California in the next 30 years. Meanwhile, the CEA is pursuing additional avenues, by trying to improve the value and affordability of earthquake insurance policies. They are also currently offering a 5 percent discount on earthquake insurance policies to people who have successfully completed a mitigation project on their home.
Home owners may forego their insurance for the simple reason that a policy might be expensive with limited coverage or the notion that the government will help out. The truth is that the government may be not be in a position to help as the President has to declare a major disaster before the Federal Emergency Management Agency can step in to help. Even if the damage is limited, that might not happen - even if you personally suffer a catastrophic loss. This is the time for a reality check before deciding for your home’s and family’s future. You can start by investing in mitigation, weighing the potential risks and determining if your area is quake prone.
Any kind of insurance policy must be evaluated by an expert, to ensure that the optimum blend of coverage and premiums is achieved. This is the kind of service that Allied Brokers, a California based insurance brokerage with a 50 year track record, provides clients the kind of insurance coverage they need. Allied Brokers represents over a dozen insurers, offering you the benefit of price and coverage comparison when it comes to selecting the right homeowner insurance policy. If you're thinking about earthquake, flood, umbrella or renters insurance, they can help you find the coverage that works best for you and your budget.
To know if you qualify, call Allied Brokers at 650.529.8564 or visit their corporate website at http://www.alliedbrokers.com/ for more information. Allied Brokers is a full-service insurance brokerage company that offers the best insurance policies at the right market price. Founded in 1954, they provide insurance products throughout California and several other states in America. They have insurance policies and services for any of your insurance needs, which include: auto, homeowners, apartments, condominiums, earthquake, flood, renters, business, health, life, collectibles and estate planning. They offer expert advice and knowledge on extended coverages and have established long-standing partnerships with the most reputable insurers and client referrals. They will treat you like an individual and not just another business dealing.
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