Because earthquake losses arrive region-wide rather than one house at a time. In an ordinary fire, one home is affected. In a significant quake, tens of thousands of claims land at once, and the percentage deductible is part of what keeps the coverage available at all. It is calculated against your dwelling limit, so 15 percent on a $600,000 limit is $90,000. That number is why the coverage is built for a structure-threatening event rather than for cosmetic cracking, and it is the first figure to compare when weighing options.
Related FAQs
Differently, because you do not own the building. Your association's master policy covers the structure, and where the association carries earthquake coverage, its deductible is typically assessed back to individual ...
Not automatically. Earthquake policies are built around the dwelling, personal property and loss of use. Detached structures, hardscape, pools, retaining walls and exterior features are commonly limited or excluded unless ...
There is no rate card, because the premium is built from the specific property. What moves it most: the age and construction of the home, whether it sits on a ...
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