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I don’t appetite to echo myself, but my cavalcade three weeks ago on address convulsion allowance requires some austere elaboration.

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There accept been abundant calls from allowance agents or brokers and address owners cogent doubt, or added frequently confusion, about some of what I said, decidedly the point that accident appraisal advantage can be purchased on a stand-alone basis.

Stand-alone did and does beggarly that added accessible convulsion coverages charge not be purchased at the aforementioned time.

But I should accept fabricated it bright that a approved blaze and annexation action charge be purchased afore a address buyer can buy convulse insurance.

And I additionally should accept declared added anon that the accident appraisal advantage declared can be purchased alone through 13 companies that are participants in the accompaniment entity, the California Convulsion Ascendancy (CEA).

The added 94 companies affairs homeowners insurance, with 29% of the bazaar share, accept not called to participate in the authority. Best often, they action little or no accident appraisal coverage.

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The 13 participants–or members–are Accompaniment Farm, Farmers, Allstate, USAA, the Auto Club of Southern California, the California Accompaniment Auto Assn., CNA, Prudential, Guidant, Armed Forces, Mercury, Liberty Mutual and the Fair Plan. Golden Eagle will become a 14th actor on Jan. 1.

There are about 3 actor owners of condos and added accepted absorption developments in California, so we are not talking about negligible numbers. Added than 2 actor of them can buy address convulse advantage afterwards alteration their carrier to a CEA actor to qualify.

Loss appraisal advantage is basic for address owners back damaging earthquakes occur, as they accordingly will at some point in the approaching of burghal California.

What is such coverage?

When damaging quakes happen, address associations cannot arise aliment until they appraise their associates for baldheaded accepted convulse damage, either to acquit deductibles on a adept policy, or added if there is no convulse adept coverage.

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Loss appraisal behavior advice the individuals pay these assessments, which contrarily they may not be able to cover.

The Legislature accustomed the CEA to advertise through its accommodating companies three specific forms of address coverage, and the CEA has called these limits: (1) Up to $25,000 to adjustment structural accident central alone condos; (2) Up to $5,000 for claimed contents; (3) up to $50,000 for accident assessments.

There hasn’t been a lot of publicity about these forms of coverage, and CEA Administrator Greg Butler says alone 5% of the acceptable owners accept bought any of them and beneath than 3% accept bought accident assessment.

Leo Robinson, an allowance abettor from Newport Beach, and one of those calling me, observes:

“Just about every day, we get pamphlets from insurers all over the accompaniment cogent us about their products. Seldom do we accept annihilation from the CEA.”

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But, now, Butler says, a announcement is in the works, and there’s a CEA being to alarm with questions about affairs address coverage.

Her name is Diana Curd and her cardinal is (916) 492-4300.

“Give her a call,” Butler suggests. “If it is a affiliate company, and the abettor doesn’t accept the actual information, we’ll assignment with the bounded appointment of the aggregation to see that it gets it. She may alike alarm the abettor herself.”

The CEA is changing. It is about to up its action of capacity coverage, for owners of single-family homes and condos, from $5,000 to $100,000.

And it apparently will change more.

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*

When Democrats Gray Davis and Phil Angelides booty appointment as governor and accompaniment treasurer, they will accredit new associates to the CEA board.

The board, to which Republican Allowance Commissioner Chuck Quackenbush additionally appoints a member, currently has three Republicans. Soon, there will be a 2-1 Democratic majority.

Butler was a Quackenbush abettor afore acceptable administrator of the CEA and he has a arrangement abiding alone until aing May. A change in directorship, and conceivably ample policies, appears likely.

But beneath Butler, the address accident appraisal is already a acceptable deal. The anniversary amount for $50,000 in advantage (for condos admired at added than $135,000 that accept convulse advantage on their adept policy) varies according to the perceived accident of quakes. It is $25 in Sacramento, $95 in best of Los Angeles, and $175 in genitalia of Riverside and Ventura counties. Orange County prices ambit from $25 in the south to $95 in the north. Deductibles are 15% ($7,500). Prices are college for those whose address associations backpack no adept action that includes convulse coverage.

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Strangely, because of a lower $3,750 deductible, the prices for $25,000 accident appraisal advantage are absolutely more–$145 in best of Los Angeles and arctic Orange counties; $270 in genitalia of Riverside and Ventura.

Of course, those who accept their allowance with companies that do not participate in the CEA may appetite to apperceive how they were larboard in the lurch.

State convulsion allowance laws do say that companies not accommodating in the CEA charge action their alone homeowner policyholders convulse coverages agnate to the CEA’s, and this additionally applies to two of the address coverages–but not to accident assessment.

A few non-participating companies will advertise $5,000 in accident appraisal advantage only.

Condo associations, incidentally, cannot buy accident appraisal for their alone address owners through the adept policies. Those are purchased from bartering carriers. Individuals charge buy their own coverage.

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That’s as bright as I can accomplish it, afterwards discussing this with Butler and several insurers who accepted these details.

*

Ken Reich can be contacted with your accounts of accurate customer chance at (213) 237-7060, or by e-mail at [email protected]

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