What do San Diego County residents have to know about Earthquake Insurance Policies, Risks and Costs?

Quality Claims Management views Earthquake coverage as catastrophic insurance. You will only need it if we have a really big earthquake. However, depending on where you live in San Diego and how much you have invested in your home, you may opt to get coverage. Here is what you need to know.

First, most standard homeowners, mobile home owners, condominium, and renter’s insurance policies DO NOT cover earthquake damage. Similar to flood insurance, earthquake insurance usually must be purchased separately.

However, fire insurance is part of most typical homeowners insurance policies. This means your home insurance policy may cover a significant part of the damage if your home burns down or is damaged in a fire that is caused by an earthquake.

Much of the damage that often arises from an earthquake happens after the ground stops shaking. Gas lines that may have ruptured and start leaking can catch on fire and burn your home to the ground. In San Diego County, it is also very possible that your home may be consumed in a wildfire sparked caused by earthquake motion many miles away. A power line may have collapsed. A home may have caught fire because of the quake and flames traveled many miles through brush to your home.

Another major factor is water damage. Quakes often break pipes. Even small quakes can crack a water or sewer pipe that floods your home and can cause extensive damage to your floors, rugs, furniture – even to the structure of your home.

If your homeowner’s insurance includes fire and flood damage, you should be covered for this “earthquake” damage – even if you don’t have earthquake insurance.

Another danger from earthquakes is landslides. You may or may not be covered for this. You need to check your homeowner insurance policy to make sure of your coverage for both landslide and fires. If your home does burn down, are you fully covered? Will you be able to replace your home and all of your belongings.

Check our other articles about homeowners insurance for details about coverages and what you need to know.

Where do you get Earthquake Insurance?

The law requires insurers that sell residential property insurance within the state of California to offer earthquake coverage to their policyholders. Most of these California earthquake insurance policies are backed and administered by a government organization known as CEA – the California Earthquake Authority.

Even though most earthquake insurance policies are sold by the state-run insurance pool, a few private companies also sell earthquake coverage. In order to provide earthquake coverage, insurance companies can become a CEA participating insurance company and offer the CEA’s residential earthquake policies or they can manage the risk themselves. To date, companies that sell over two-thirds of the residential property insurance in the state have opted to become CEA participating companies.

According to the CEA website, the CEA homeowners policy is designed to help get you back into your home after an earthquake. The CEA base-limits policy for homeowners includes:

Dwelling coverage – The coverage limit is the insured value of your home stated on your companion homeowner policy.

* Personal Property coverage – $5,000

* Additional Living Expense/Loss of Use coverage – $1,500

* You may select either a 10% or 15% deductible on your Dwelling coverage, and CEA’s increased-limit options allow you to increase Personal Property coverage to as much as $100,000 and Additional Living Expense/Loss of Use coverage to as much as $15,000.

Residential property insurance includes coverage for homeowners, condominium owners, mobile home owners, and renters.

Earthquake insurance is not intended for smaller losses as you must have enough damage to surpass your deductible. Even though deductibles are generally 10-15% of the amount of the Coverage A limits, it can be a little confusing to calculate the actual deductible amount since there are several factors that go into the formula.

How will your home handle an earthquake – Do you need Earthquake Insurance

- where in San Diego County do you live?

- what is under your house (rock, sand, fill, etc?)

- how is your home constructed – is it up to code and why that matters for your coverage

Age and type of construction contribute to how a residential structure reacts during an earthquake. Based on the scientific and engineering research, the CEA premiums reflect the following rating factors:

- In general, houses built on a slab perform better than those built on a raised foundation.

- One-story houses are less vulnerable to earthquake shaking than multi-story houses.

- Unreinforced masonry structures are more susceptible to damage than those of wood-frame construction.

- Houses of a certain age are not as strongly constructed as others.

The type of home you have affects your risk. One-story homes that are “tied together” — with the roof bolted to the walls, and the walls to the foundation — tend to survive earthquakes and windstorms better than multistory homes that aren’t. As you would expect, houses with big openings, such as plate-glass windows or large garage doors, fare worse than ones without those features.

In addition, your home can be substantially fortified with some special construction measures. For many, this can be a better investment than buying earthquake insurance.

The Institute for Business and Home Safety has a Fortified For Safer Living” program that specifies building techniques that can help homes better withstand disaster.

Other California Earthquake Insurance Factors

No Known Loss Letter Requirement

In areas that have been previously affected by an earthquake or other catastrophic event, an insurer may require a “No Known Loss Letter” with all requests for earthquake insurance or to add earthquake coverage to an existing policy. These kind of letters letter confirms that no known losses or damages have already occurred to the requested coverage location(s).

DIC Policy

DIC (Difference in Conditions) insurance provides coverage designed to close specific gaps in standard insurance policies. It allows coverage to be customized to extend to such exposures as water damage, flood, collapse, earthquake, landslide, etc., according to the insured’s needs. DIC coverage may be provided by means of a separate insurance policy or it may be added by endorsement to the basic policy.

Is Earthquake Insurance Right For You? How Much Equity Do You Have In Your Home?

As mentioned earlier, we view Earthquake coverage as catastrophic insurance. You will only need it if we have a really big earthquake. The more equity you have in your home, the more you need insurance.

According to UnitedPolicyHolders, a non-profit organization that fights for the rights of insurance consumers and educates individuals and businesses on how to get fair treatment, “a generally accepted rule of thumb is that you should not risk more than 10 percent of your liquid assets. A large earthquake could mean 10 to 100 percent of your home’s structure could be damaged or destroyed, up to 20 percent of your belongings could be damaged, and/or you may need to come up with $3,000 a month for temporary rent and relocation costs.”

In San Diego, we get lots of smaller quakes on a regular basis. These are reminders to YOU to review your current coverages to be sure that you are adequately insured. Is your current homeowner’s insurance up to date? Will it pay to rebuild your home to current building codes? Do you have additional coverage and riders for all the new stuff yiou may have acquired since you first bought your insurance policy?

Remember, it is far more likely you will have pipes break or fires start from the smaller earthquakes. If either of these happen, you should have coverage under your regular homeowners policy. Check to make sure it is up to date and that you have enough coverage. As a result of the 2003 and 2007 wildfires, we have found that most homeowners in San Diego are underinsured.

By the way, businesses should review their policies to be sure they have EQSL – or Sprinkler Loss coverage. There is a greater chance you will suffer damage from sprinklers leaking than from a building falling down.

by Ronald Reitz, President of Quality Claims Management

Ron Reitz is president of San Diego-based Quality Claims Management Corp., a nationally licensed public insurance adjuster, providing hazard claim recovery services to investors, mortgage servicers, homeowners and businesses. Earlier, he pioneered the national hazard insurance claims business of GMAC-RFC (now GMAC-ResCap). He is the past president of the California Association of Public Insurance Adjusters and currently serves on the board of the National Association of Public Insurance Adjusters. Contact Quality Claims Management at (866) 45-1183 or http://www.qualityclaims.com.

RESOURCES

The California Earthquake Authority is a publicly managed, largely privately funded organization that provides catastrophic residential earthquake insurance and encourages Californians to reduce their risk of earthquake loss.

Only a CEA participating insurance company or its agent can give you an exact CEA-premium quote, but to get a good estimate of the cost, use their handy premium calculator.

Quality Claims Management online article with maps to find out if your home is in a danger zone – check for landslide, liquefaction and earthquake fault zones. http://www.qualityclaims.com/homeowner.aspx?sect=_quakeinsurance

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For San Diego County Residents – Do You Need to Worry About an Earthquake Destroying Your Home or Business?

If you live in California, the US Geological Survey has said that Southern California will most likely be hit with a big earthquake within the next 30 years. They said that there is a 99% chance that we’ll experience a quake with a magnitude of at least 6.7. They also said there is 46% chance that we will have a 7.5 magnitude quake – or bigger.

So what does that mean for San Diego County residents? Even though the “big one” is supposed to have an epicenter somewhere in Southern California, most San Diego residents are not highly at risk. Well, at least compared to Orange County and Los Angeles (LA) residents. One indicator is earthquake insurance rates. In San Diego versus LA, the average premium cost in San Diego is only $251 per year compared to Los Angeles and Orange Counties which is $693 per year.

According to a recent San Diego Union Tribune article, a ‘Big One’ in California would not be like the recent big quake in Chile. Because California’s seismic plate tectonics differ from Chile’s, our region is not subject to the large magnitude quakes that they experience down there. In California the plates slide sideways while in Chile they slide under each other. Additionally the crust is a lot thinner here than in Chile. Because of those two factors, seismologists predict a maximum 8.1 quake at the worst for Southern California.

The San Andreas Fault, which extends from the Salton Sea to the town of Parkfield in Monterrey County, provides the greatest seismic threat. Luckily though, the Salton Sea area is a long distance away from most San Diego residents. In addition, the San Andreas Fault is inland and would not result in a tsunami, which caused much of the recent damage in Chile. There are several off shore faults near San Diego but they are very small and do not present much risk.

If a big jolt did indeed hit the San Andreas Fault near the Salton Sea, San Diego City residents would definitely feel it, but most likely would not experience catastrophic damage or casualties. Despite that, we do have a few smaller local faults that have the potential to generate a pretty big jolt. The most worrisome San Diego County faults are the Rose Canyon Fault on the east side of Pacific Beach and La Jolla. A little further south and inland, the La Nacion Fault runs through South San Diego, Chula Vista and National City. In the East County mountains and deserts, you need to be aware of the Elsinore, Aqua Caliente and San Jacinto Fault Zones.

So, depending on where you live, there is varying danger of fault movement and earthquake shaking. If you live close to a known fault, you should be aware of the possibility of a large jolt damaging your property. However, there are two other risk factors as well, they are landslide and liquefaction. During an earthquake, especially after wet weather, the violent earth shaking may trigger a landslide. However, of more importance is what your home or business is built upon.

Many San Diego homes and businesses are built on sand or on fill and are vulnerable to what is known as soil liquefaction. During a quake these kinds of soils can act like jello, amplifying a quake’s movement more than a home built on rock or settled land. Because of liquefaction, a home that is close to a earthquake epicenter that is built on rock may experience less shaking and damage than a home that is much further away that is built on sand or fill.

How can you find out what is under your home and what danger is neighborhood is in?

A great online resource to check out your specific neighborhood is this SANGIS interactive map to find fault lines, landslide and liquefaction zones in your San Diego community http://files.sangis.org/interactive/viewer/Viewer.asp

It’s a little complicated to find the dangers in your San Diego neighborhood. Start by clicking on the “custom map” button. On the right side scroll down and then click on Faults. Next click on Geologic Hazards. That will activate those map layers. Then hit Refresh at bottom of page on the right side.

Now is the fun part. Finding your neighborhood. Using the PAN and ZOOM IN controls, navigate around the map and zoom in to find your neighborhood and its geologic hazards for fault zones, liquefaction and landslides. You can zoom in to your specific block to get an idea of the earthquake related threats around your home or business.

If you are clear of all those, you probably don’t need Earthquake Insurance as much as someone whose home is in a liquefaction zone adjacent to an earthquake fault.

by Ronald Reitz, CPPA, President of Quality Claims Management

More info at http://www.qualityclaims.com/homeowner.aspx?sect=_quakeinsurance

Ron Reitz is president of San Diego-based Quality Claims Management Corp., a nationally licensed public insurance adjuster, providing hazard claim recovery services to investors, mortgage servicers, homeowners and businesses. Earlier, he pioneered the national hazard insurance claims business of GMAC-RFC (now GMAC-ResCap). He is the past president of the California Association of Public Insurance Adjusters and currently serves on the board of the National Association of Public Insurance Adjusters.

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Five Things to Do

1. Make sure your family and pets are safe. Find a place to live. Most insurance policies provide reimbursement for hotels and rental homes. You do not have to rough it. You are entitled to stay in a location with similar quality as your covered home. In order to ensure that you are fully compensated for your “additional living expenses” and “loss of use”, you will need to keep all receipts for meals, lodging, and purchases to replace damaged items from the time you left your home after the quake until it is fully repaired and you are able to move back in.

If you have a policy issued through the California Earthquake Agency, the Additional Living Expense coverage will probably not cover your living expenses during the repair process. You may want to contact FEMA for additional assistance.

2.Notify your insurance agent and/or insurance carrier that you have sustained damage to your home. If it is only minor, you may want to think and reconsider as your deductible may cover the damage that was caused. If you have suffered damage you believe is covered by your earthquake, business and/or homeowner’s insurance policy, you need to inform them that you plan on filing a claim. Coverage for some earthquake related losses might be available under certain sections of your homeowners or business policy.”

3.If you don’t like what your insurance adjuster is saying or if they tell you that the damage does not exceed your policies’ deductible, you should get an independent opinion. It may be time for you to call in a Public Insurance Adjuster, licensed structural engineer or a contractor who has had experience rebuilding earthquake and fire damaged homes.

“The adjuster sent by your insurance company to inspect your home after a quake may not know how to look for and identify earthquake damage,” warns UnitedPolicyHolders.org, a non-profit organization that fights for the rights of insurance consumers and educates individuals and businesses on how to get fair treatment. “Do not blindly trust your adjuster, especially if he or she tells you no benefits are owed because the damage did not exceed your deductible. Some companies reward adjusters for paying out as little as possible on claims. Your home is simply too valuable for you to rely on one person’s opinion, especially if that person is not a licensed structural engineer or an experienced contractor.”

4. You should do this BEFORE you have a disaster but most people don’t look carefully until after something bad happens. You need to take a close look at the “declarations” page.

That is the page that states your name, address, policy number, categories of coverage, dollar limits, endorsements, lender, etc.). Check the date to ensure that you are working from the most current, up-to-date copy because that will state exactly what your coverages are. The “Endorsements” (extras) will be listed and review the ones that apply to your policy. Every endorsement has a code number that matches text in the policy. (See Declarations Guide below)

Amy Bach of UnitedPolicyHolders, warns, “If you are confused, do not rely solely on your insurance company or THEIR adjuster for answers. Consult with professionals who specialize in advising or representing insurance consumers.”

5. Do not sign anything unless you are sure that you are being adequately compensated for your losses. Don’t provide a sworn statement or final “Proof of Loss” document to your insurer until you are positive that you understand your rights, your insurance policy coverage and endorsements, and the FULL extent of your claim and what it will take to make you whole again.

Don’t sign anything without proper legal advice first. Be especially aware of “releases or waivers of any kind. Carefully read all documents carefully, including both sides of all checks, to make sure they don’t contain “final” or “release” language.

Insurers have the right to take your recorded or sworn statement regarding your claim, and you must cooperate, provided their request is reasonable. However, giving such a statement without legal representation, or prematurely signing a final proof of loss may hurt your ability to fully recover the policy benefits you need to repair your home properly.

Insurance company adjusters often try to rush you into a fast settlement to save money and close your file. He or she may also claim that your home damage pre-existed the quake. Don’t be pressured. Take your time and get professional help if you need it.

Documenting a major loss to ensure a full, fair recovery requires work and lots of research. Before you can really know the true amount of your insurance claim, you must get estimates from reputable contractors, and be able to inventory all your lost or damaged possessions. This takes time. If your home is showing severe cracks, you may have foundation damage. A licensed structural engineer should fully inspect and tell you the scope of necessary repairs. Discuss repair options with a reputable contractor before settling your claim.

UnitedPolicyHolders Guide to What to Look for on the Declarations Page:

1. Your policy has categories of coverage and dollar limits for each one. The main categories are “Dwelling”, “Contents”, “Loss of Use,” (sometimes called “Additional Living Expenses”), and “Other (or ‘Appurtenant’) Structures” etc.

2. The dollar limits stated on your Declarations page may be lower than your true limits. Annual inflation factors, “endorsements”, and other additions contained in the policy increase your limits. Typical additions are 5% of your dwelling limit for debris removal and landscaping. Typical endorsements are Extended Replacement Cost coverage and Building Code/Ordinance coverage. Do the math to re-calculate your limits in all applicable categories.

3. The policy language may not provide the coverage you requested at the time you purchased it, and you may find you are under insured. In this situation, you may need professional help from a policyholder attorney or the Department of Insurance to determine whether an agent/broker or the carrier is legally responsible to solve this problem.

There are laws and regulations that protect you as an insurance consumer. Those laws are set forth in the California Insurance Code at section 790.03(h), the California Code of Regulations at Title 10, Chapter 5, and judicial decisions.

Take Your Time – Don’t Be Rushed

Even though you are in a hurry to get everything settled and to get your family back into your home, you need to take your time and do it right. Once you sign the final documents, you will have no recourse. Most people who sign quickly lose out on money that they could have got if they had waited. If you hurry, you will not be able to adequately remember all the possessions that you had purchased and are now destroyed. This is especially true of the little things- special tools and implements, the gifts, decorations and special items that only get used several times a year – on holidays or vacations. A rushed settlement only benefits the insurance company and its agents – not you.

Check out this Quality Claims Management online article with maps to find out if your home is in a danger zone – check for landslide, liquefaction and earthquake fault zones. http://www.qualityclaims.com/homeowner.aspx?sect=_quakeinsurance

by Ronald Reitz, President of Quality Claims Management

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

If you live in San Diego County the upcoming October might be very dangerous. In 2003 and 2007, wildfires ripped through the country – from the east county to the coast. It might happen again. Between the heavy growth from this year’s early rains and the reduced fire fighting budget in San Diego, local residents should do their part to be prepared.

Have you traveled the San Diego County back roads lately and seen all the wonderful green on the hills? It looks beautiful now but once the summer heat and winds arrive, that pretty foliage will be converted into potential fuel for another out of control wildfire.

Are you ready?

In addition to making your property fire safe by cutting back brush, removing wood fences and wood structures, and eliminating wood shingles, San Diego residents also need to:

1) Check insurance coverage – are they properly insured?

2) Determine if your home inventory list up to date

3) Have an evacuation plan (including data back up)

Check Your Insurance Coverage

Every year, the costs to rebuild go up. Is your homeowner’s insurance policy coverage keeping up with the increases in building and construction costs? If your home does burn down, will your insurance policy cover the new codes and building regulations? Many policies are limited to just rebuilding what you are already have.

In the two big previous San Diego wildfires, the 2007 Witch fire and the 2003 Cedar fire, many homeowners discovered after the fact that their policies were out of date and they were under-insured.

Even with the threat of wild fire danger, we believe that most San Diego County homeowners are still under insured. According to most insurance companies, it is the responsibility of the homeowner to determine the appropriate levels of insurance for their property, not your insurance agent. An agent or broker cannot know the value of your property and your possessions as well as you can.

You have to take the responsibility to properly insure your house.

Review your policy to see what kind of coverage you have. Do you have Replacement Cost or Actual Cash Value? Guaranteed Replacement Cost is the best but also the most expensive. Remember, don’t base the replacement cost limits on the amount of your mortgage.

When examining your existing policy, make sure that all of your personal property is correctly insured. Do you have extensive or expensive landscaping, trees, plants or shrubs that need to have higher limits? Determining the actual replacement cost value of your property is not easy or simple. Make sure your agent does the work.

How to Know What You Might Need to Replace?

Every year, you and your family should update your home inventory list. This is a list of all the items that your family owns that you would want reimbursement for should your home burn down.

In addition to large items like furniture, appliances, major electronics, cars, boats, etc., this should also include clothing, pots and pans, seasonal items, tools, cameras, jewelry and all the other property that you and your family own in the house.

After a disaster, one of the biggest challenges people face is preparing a list of their personal property destroyed in the fire. What was it worth?

Even in the best of times, you will find that you cannot remember everything or the specific details. Now add in the stress of disaster, desperately searching for a place to live, and just getting to work every day, and you can see how recollecting the details of your lost belongings, what they were, how much they cost, and when you got them, can be an almost insurmountable task.

Preparation can provide a little peace of mind. You can download a free Home Inventory List from San Diego’s Quality Claims Management, and work from that. You can supplement the list with still images and videos of the various items. A good technique is to go room by room, cataloging the various items and taking video or a picture of it. For example, when doing the bedrooms, take your items out of the shelves and the closets and place them on a bed and make a visual record. In the kitchen, pull out the various pots and pans, silverware and dining sets and seasonal items, and display them on a counter or a table for photographing.

You might want to make a family activity out of this and involve the kids as well, especially when documenting the items in their bedrooms, den and garage.

Enter all this info into your computer, along with the images, and burn a CD or two. Once the data is done, make sure you keep copies outside of the home. Maybe send one CD to a relative, put another in a safe deposit box. It doesn’t make sense to have your inventory list burn up with the rest of your possessions.

Offsite storage should also extend to your computers and the info they contain. In addition to storing back up drives, CDs and data outside your house, there are a variety of free online back up services. Do an Internet search for “Free Online Back Up”. Several of these businesses offer free storage of up to 2 gigs. For a few dollars a month, many services enable you to regularly back up all your information so it is protected.

Have an Evacuation Plan

Begin by reviewing your insurance policy. What kinds of emergency help are you entitled to?

Most insurance policies provide coverage for you and your family to stay in a residence similar in size and quality to your current residence. During a wildfire, or right after your home is destroyed, is not the best time to start thinking about this. Every year or two, look around and identify nearby hotels that may be available in an emergency. Is it big enough for you and your family? Is the location convenient to schools and work? Is it kid friendly? If you have pets, especially large ones, can you take them there?

If your pets are too large or too exotic for a hotel, what will you do with them? Prepare a list of various boarding facilities and stables that could possibly take your animals in case of a disaster.

Finally, how is your family going to evacuate? Who is going to take what? Depending on the ages of your children and whether or not they have cars, you might want to assign responsibility for the family possessions to specific individuals. If the kids are in school during a fire, what is going to happen? If mom is off on a business trip when a wildfire event happens, who will evacuate what?

If the family gets separated, where is everyone going to meet? Who is responsible for the pets? If you live in a fire danger zone, it makes sense to sit down periodically as a family and discuss these matters.

This summer – 2010 – may be a hot one. Hopefully, San Diego will not be torched by any wildfires. But it is always wise to be prepared. You will be able to sleep a lot better knowing that your family, your home and your possessions are adequately protected.

* Make sure you have an evacuation plan.

* Make sure your inventory list is up to date and all your important information, photos, videos and other data are backed up somewhere outside of your home.

* Contact your insurance agent to make sure that your have appropriate insurance and adequate coverage for your property.

Ron Reitz is president of San Diego-based Quality Claims Management Corp., a nationally licensed public insurance adjuster, providing hazard claim recovery services to investors, mortgage servicers, homeowners and businesses. Earlier, he pioneered the national hazard insurance claims business of GMAC-RFC (now GMAC-ResCap). He is the past president of the California Association of Public Insurance Adjusters and currently serves on the board of the National Association of Public Insurance Adjusters. Contact Quality Claims Management at (866) 45-1183 or http://www.qualityclaims.com.

About Quality Claims Management
Quality Claims Management Corporation provides hazard claim recovery services to investors, mortgage servicers, homeowners and businesses. All claims are adjusted by licensed insurance professionals for an equitable settlement and accelerated resolution timelines.

QCMC’s core focus is unparalleled expertise in policy coverage and the technical aspects of mortgagee and homeowner claims. QCMC has worked with homeowners and businesses including those affected by catastrophic natural disasters such as the 2003 and 2007 Southern California Wildfires, and Hurricanes Katrina, Rita and Wilma.

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Watch this video for a demonstration of “How To Buy Renters Insurance”. To complete the task, you will need:

A rented apartment or house
Belongings you want to protect

Get started with the first step: Estimate the value of your belongings. This will help determine the level of insurance to purchase.

Here is the video on Youtube:

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Here is the video on Youtube:

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Description of contemts and usage of Preparedness-In-a-Box Kit.

Here is the video on Youtube:

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

The U.S. military task force responsible for emergency preparedness and response during the inauguration held an open house for the media.

Here is the video on Youtube:

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A survival first aid kit should be located in a container that is impact resistant and has the ability to float. Discover which medical supplies should be included in a first aid kit, such as bandages, gauze and scissors in this video.

Here is the video on Youtube:

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Homeowner’s insurance protects you against the loss of personal property and possessions. Homeowners are required to have this kind of insurance before getting a home loan. However, there is more to consider than just the cost of coverage when buying homeowner’s insurance. Purchase the right kind of homeowners insurance for your house or apartment and protect your valuables.

Here is the video on Youtube:

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