Original source: https://www.cnn.com/2019/07/05/us/california-earthquake-insurance/index.html
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CNN (07/06/19) Karimi, Faith
Southern California was struck by two big earthquakes — a 7.1-magnitude quake about July 5 and a magnitude-6.4 temblor in the exact identical place on July 4. The California Department of Insurance (CDI) states that as the nation is more likely to tremors, just 13% of homeowners have earthquake insurance, and people who have renters or homeowners insurance mistakenly believe they’re covered for earthquakes. Earthquake coverage is a separate coverage, also in California, the company must offer to sell separate earthquake insurance to you coverage. The deal must be in writing and give you 30 days to accept it or not; CDI says in the event that you don’t respond, so it means you’re rejecting the offer. “California law states that both homeowners and renters insurance must pay for fire damage that’s due to follows a earthquake,” says CDI. Coverage can be purchased in the California Earthquake Authority or private insurance companies. … Read More
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