Calif. Approves Major Rate Reductions For Earthquake Insurance Carriers
|Targeted News Service|
The premium reductions are based on updates to models used to develop earthquake insurance rates which show lower damage estimates. As a result of the new data, the
Only 12 percent of
Rates are based on a number of factors, including: the year the home was built; construction type; the distance to a fault line; and seismic and soil studies. Homeowner insurers are obligated to send out offers of earthquake coverage every other year with policy renewals.
TNS 23SQ 121201-JF78-4124212 StaffFurigay
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